Meme Coin On Coinbase's Layer-2 Network 'Could Rise' 80% Towards New All-Time High, Says Crypto Analyst
Portfolio Pulse from Mehab Qureshi
Brett (CRYPTO: BRETT), a meme coin on Coinbase's layer-2 network Base, has seen a 30% increase in the last week. Analyst Ali Martinez predicts a potential 80% rise to a new all-time high of $0.130. Base's usage has surged, with its total value locked reaching $1.202 billion and daily transactions hitting a record 2.34 million.
April 05, 2024 | 6:34 am
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Coinbase's layer-2 network Base sees increased usage and value, partly due to the popularity of meme coin BRETT.
The surge in Base's usage and the total value locked, driven by the popularity of meme coins like BRETT, indicates a positive impact on Coinbase's layer-2 network. This could potentially attract more users and investments to the platform, positively affecting Coinbase's stock (COIN) in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ethereum's performance and appeal may be indirectly boosted by the success of applications like Base, which enhances its scalability and cost-effectiveness.
Although not directly mentioned, the success of Base as a layer-2 solution for Ethereum, highlighted by the popularity of BRETT and the platform's growing usage, indirectly benefits Ethereum by demonstrating its scalability solutions. This could enhance Ethereum's appeal and potentially its price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60