Coinbase: 'Fresh' Whale Wallets Created in 2023 Drive Activity on Base
Coinbase’s Base was publicly launched a few hours ago. The L2 blockchain is the first of its kind to be launched by a publicly traded company. For Coinbase, it is a new revenue opportunity. The company will earn user fees from running its own blockchain. Parallelly, the apps built on top of Base will open another stream of revenue for Coinbase. A recent Analysis report by Nansen highlighted that many newly created whale wallets are invested “heavily” in meme coins across Base and Ethereum. With respect to the number of new wallets identified, the report highlighted, “22 ‘Early BASE Whales’ identified, mostly new “fresh” wallets created in 2023, heavily allocated to Ethereum and L2s.” The wallets were predominantly interacting with known DEXs, L2 bridges, and Unibot stands out. Their on-chain behavior has not changed much over the past 1-3 months — Nansen 🧭 (@nansen_ai) August 9, 2023 Meme Coin Inclination...