DEGEN Rallies On Increasing Adoption By Base Ecosystem Projects

　　DEGEN Rallies On Increasing Adoption By Base Ecosystem Projects

　　Originally created as a memecoin airdropped to Farcaster users, the token has evolved to offer grants to early-stage projects and has been integrated into third-party apps.

　　Activity on Base, the Ethereum Layer 2 network developed by Coinbase, shows no signs of slowing down, with weekly transactions hitting an all-time high of nearly 10 million.

　　As investors look to position themselves for ‘Base season,’ DEGEN, a token that was initially airdropped to active users of the web3 social network Farcaster, is leading the charge with an astonishing 1,500% rally in the past 30 days to a market capitalization of $212 million.

　　Precio de DEGEN

　　The token now commands a fully diluted valuation north of $600 million and is increasingly being visto como herramienta de edición del proxy bet on the Base ecosystem since the network doesnt have a native token like most competing Layer 2s. While airdrop farmers are speculating that this may change in the future, Coinbase has been tight-lipped about any potential token plans.

　　While it started out as a way to incentivize engagement on Farcaster, the project has since evolved, raising 1.5 millones de dólares in funding last month and disbursing grants to incubate new projects.

　　Drakula, a video-sharing app likened to a ‘web3 TikTok,’ received a grant of 20 million DEGEN tokens, currently worth over $300,000. In-app transactions are denominated in the token and the platform recently crossed 10 millones de dólares en volumen de operaciones.

　　Other projects that received grants include the prediction game Perl, which lets users bet using DEGEN, and the asset streaming protocol Superfluid, which developed a feature called ‘StreamYoink’ that lets users earn a steady stream of DEGEN until someone else takes it over.