Emerging Trends and Development Prospects of the Base Ecosystem

Recent Changes in the Ecosystem

Since the end of May 2025, the Base ecosystem has shown obvious characteristics of an "explosion period". The daily active addresses, total locked value ( TVL ), and daily transaction volume have all shown a rapid upward trend. This explosion is mainly due to the successive hype of several popular narratives within the ecosystem, attracting wide attention from the market. From a macro perspective, the optimistic sentiment surrounding the stablecoin concept is spreading in the global stock market, especially against the backdrop of a potentially improving regulatory environment, making Base a more favored choice for traditional institutions.

Specifically manifested as:

• The number of active users has grown exponentially, recently reaching a historic high of 3.6 million.
• The total locked value surged from $2.8 billion to nearly $4 billion in May, returning to the peak levels of the 2024 bull market.
• Since May, the average daily trading volume has approached 9 million transactions, reaching the peak of the bull market in 2024.

Popular Project Analysis

Virtual: Innovative New Mechanism Ignites the Market

Virtual has rapidly become one of the most关注ed projects in the Base ecosystem due to its unique new issuance mechanism. Its core advantages include:

1. Extremely low financing price: Each new project raises funds at a market value of approximately $224,000, providing users with an opportunity to participate at a low cost.
2. Token Linear Unlocking: Adopting a transparent token economic model similar to VC tokens, unlocking in batches.
3. Low-risk participation: Full refunds for unsuccessful fundraising projects, and only a small number of high-quality projects are published daily.
4. Project party incentive mechanism: Set a 1% fee, of which 70% is returned to the project party, forming a positive ecological closed loop.

However, as the platform's popularity increased, early users frequently obtained short-term high returns through the "buying new and selling immediately" strategy, resulting in significant selling pressure on new projects. In response, Virtual launched the "Green Lock Mechanism", imposing a mandatory lock-up period for new buyers. Although this mechanism helps extend the project lifecycle, it also significantly alters the original speculative logic, leading to a temporary decline in market enthusiasm.

Kaito: A Pioneer of Attention Economy

Kaito, as a leading project in the "Information Finance (InfoFi)" sector, has seen its price increase by nearly 205% since May. Its core highlight is the Yaps module, which constructs a content-driven influence Web3 communication mechanism by "tokenizing attention" on content published by users on social platforms. This mechanism greatly stimulates community engagement and effectively promotes the prosperity of social and narrative content on Base.

Kaito has also launched the Yapper Launchpad system based on points ranking and the AI-driven information network Kaito Connect, achieving a collaborative closed loop among content contribution, points allocation, and project selection. This model, which anchors value in content, brings a new narrative to Base that differentiates it from traditional DeFi, opening up new imaginative space in the integration of social and financial sectors.

Future Development Trends

With the U.S. Senate passing the GENIUS stablecoin bill, establishing a legislative framework for dollar stablecoins, a trading platform has begun its three major layouts as a compliant exchange in the U.S.:

1. Through Base, open up the interaction channels with on-chain assets and become a compliant entry point for on-chain transactions.
2. Collaborate with traditional financial institutions to issue compliant stablecoins based on Base, facilitating the on-chain migration of traditional financial funds.
3. Establish diversified content in the Base ecosystem, including on-chain US stocks, compliant payments, DeFi, AI Agents, etc., to attract traditional capital inflow.

These three major measures not only create a "fast track" for compliant assets to enter the market but also establish a complete value closed loop for USD stablecoins—from fiat currency onboarding, to on-chain deposits and circulation, and finally to the implementation of real use cases.

High-Potential Projects in the Ecosystem

1. Certain DEX: As a leading player in the ecosystem, it is expected to receive continuous and stable institutional liquidity support, driving growth in trading volume, TVL, and platform revenue.

2. Another DEX: As a DEX integrated into the trading platform, it will gain more on-chain liquidity, enhancing the platform's potential revenue.

3. Keeta: A high-performance RWA public chain, featuring tens of millions of TPS and sub-second transaction confirmations, and is expected to engage in deep cooperation with Base in the direction of RWA compliance in the future.

4. Creator Bid: Launch of version 2.0, introducing new mechanisms such as staking for new projects, enhancing user participation and expanding the creator economy gameplay.

5. Upside: The first social-oriented prediction market platform on Base, with the potential to become a new type of application that combines liquidity and content attributes.

Currently, Base is gradually evolving from an "active trading" L2 network into a "well-structured" on-chain financial and content infrastructure. Although some hot projects are facing challenges from the cooling of enthusiasm and speculative behavior from users in the short term, from a long-term perspective, the narrative continuity and institutional connectivity exhibited by the Base ecosystem suggest that it may become an important bridge for traditional capital to enter Web3 in the next stage. For investors, Base is no longer just a hot rotation track, but an important sample for observing the transformation path of the crypto industry towards "compliance, financialization, and practicality."