BASE, a chain developed by Coinbase, attracted many developers to build on the network. Some of the cryptocurrencies that were launched on BASE saw significant price appreciation.
Despite the recent selling following Iran’s strike on Israel, a recovery is taking place at the time of this writing.
According to a recent press release, Chainlink, the tech company that allows smart contracts to connect to external data (such as stock prices), launched Chainlink Functions on Base.
Chainlink Functions is a serverless platform that allows developers to connect smart contracts to any API. It is 100% decentralized and acts as an existing serverless solution such as AWS Lambada.
These are the top Base cryptocurrencies to watch in 2024.
- Dogeverse: Multichain meme coin at a presale stage
- Degen: Ranking among the top meme coins on Base
- Brett: Meme coin with rising popularity
- Virtual Protocol: Monetizing AI in the metaverse
- Moonwell: decentralized lending and borrowing protocol
1. Dogeverse – Uniting dogecoin crypto communities across multiple chains
Dogeverse is a new meme coin. The presale is ongoing at the time of the writing with $1.7M raised so far.
$DOGEVERSE will launch on multiple chains via Wormhole and Portal Bridge. The token will be available on ETH, BSC, POL, SOL, AVX and BASE.
The main benefit of being available in multiple chains is to prevent a scenario of what others are currently experiencing in Solana. Holders can easily bridge their tokens across other chains if one chain is down or suffers from congestion.
It also brings meme coins enthusiasts under one umbrella from different blockchain networks, a ‘unified cryptoverse.’
source: dogeverse
According to the website, stakers will benefit from high rewards. The staking rewards are distributed every Ethereum block.
The staking rewards can be claimed anytime by clicking the website’s ‘claim rewards’ button.
2. Degen – The unofficial coin of Farcaster riding the bullish wave
$DEGEN token was created for Farcaster, a decentralized social network. Farcaster has over +100k downloads on Google Play.
Due to the surge in popularity of Base that stemmed from the rise of meme coins on the chain, Degen benefited from significant growth.
What began as a meme coin has become one of Farcaster’s pillars. Users earn points in return for engaging in Faraster, which means followers, likes, and posts.
Degen TVL on Uniswap has increased since March, standing at $27M.
source: de.fi
Another way to passively earn points is by providing liquidity on Uniswap, dubbed liquid mining.
$DEGEN enjoyed wide coverage after Lookonchain discovered that a trader had turned $113,000 into $3.4M from the token.
If Farcaster continues to grow in 2024, Degen will be a cryptocurrency to watch closely.
3. Brett – PEPE’s best friend on Base
Brett is a meme coin on Base. Dubbed as PEPE’s (a well-known meme coin on Ethereum) best friend, Brett has over 70,000 holders at this time.
The meme coin was launched in March 2024 and is already ranking among the top meme coins on Base.
source: cmc
With 85.55% of the supply in circulation, Brett is not a cryptocurrency to miss.
Earlier this year, Coinbase announced it would add new wallets for Base, such as smart and embedded wallets.
Embedded wallets will be ‘wallet as a service’ or WaaS. Developers can customize the wallets and create white-labeled wallets for their clients.
As millions of users are expected to join Base, Brett, being among the top meme coins on the chain may benefit from moderate growth.
4. Virtual Protocol – Creating and monetizing AI Characters in the Metaverse
The virtual protocol is available on Ethereum and Base. The protocol attempts to innovate the AI landscape in virtual realities.
According to the whitepaper, AI can be used to ‘dynamically generate new worlds and scenarios with compelling storytelling. For gaming, it means a ‘never-ending stream of discoveries and content.’
source: virtual protocol whitepaper
AI-powered NPCs will have more realistic social engagements to boost engagement with the application.
The protocol’s artificial intelligence will also monitor fair play by preventing cheating and offering adaptive rewards based on the players’ skills. Training bots can also be launched to board new players.
Virtual Protocol was launched in 2024, which is a relatively new token. If the project can partner with big names in the gaming space, it may reflect in a price appreciation we have seen with other tokens.
5. Moonwell – Lending and borrowing protocol on Base
Lending and borrowing are popular among traders who wish to capitalize on Decentralized Finance (DeFi).
Traders deposit tokens and in exchange earn interest on other traders that borrow their tokens. Safety measures are in place to prevent a scenario where the borrowed tokens cannot be paid back.
source: moonwell
The number of staked coins has doubled since the beginning of April, reflecting the interest of crypto investors in the chain.
If Base succeeds in onboarding millions of users to the chain, the popularity of lending and borrowing may increase which could favor Moonwel.
The downside is that borrowing and lending may be subject to future crypto regulations. If Moonwell cannot adjust, it will be reflected in the price.
All of the smart contracts were audited by Halborn Security.
Food for thought: All eyes on SOL
Many projects planning to launch Solana are on hold due to the chain’s congestion. The chain struggles to validate the transactions due to a sharp rise in bots activity.
Solana devs are working on a fix to resolve the current issues by April 15. All validators were asked to upgrade their nodes ASAP on Friday (v1.18.11 release) on testnet. It will allow the developers to observe whether it may resolve the ongoing issues with Solana.
While other chains such as Optimism and Arbitrum cannot be easily dismissed, Base is also being considered. We may see significant inflows into Base if Solana fails to resolve the congestion in a timely manner.
