On the evening of July 31, the layer-2 Base meme coin BALD saw the founder suddenly withdraw part of the liquidity of the BALD/WETH trading pair, causing the token price to plummet by about 85%. .
This incident led the community to view this as a case of “rug pull”. However, investors found that the founder was slowly recovering liquidity into the trading pair, despite still holding 12,000 ETH. (approximately 21 million USD) funds from liquidation withdrawals in personal wallets.
Original Post: The memecoin movement has spread to the Layer 2 Base network. Many memecoins have surged from a few hundred to several thousand times over the past few days.
- source: @MoonOverlord
Prominent among them, the memecoin BALD has increased more than 20,000 times in the past day. In addition, BASED also increased to 5,580 times, while OPTISM increased 435 times.
Because of this trend, the transaction data on Base has recently grown significantly. According to data from Dun Analytics, more than 25,000 ETH (equivalent to 40 million USD) has been transferred to this network.
Among them, 9,800 ETH is in the BALD/WETH pool on the LeetSwap decentralized exchange, which operates on Base.
Besides, according to data from DEX Screener, this network performed more than 276,000 transactions in just July 30.
The base is a Layer 2 network developed by Coinbase and recently launched its mainnet version for developers on July 13. However, the network is still not ready for the majority of users because there is no official bridge yet.
Therefore, users who want to trade these memecoins must learn carefully because memecoins always have a lot of risks and in addition, the fact that Base has not opened the mainnet for all users makes this use of Layer 2 quite difficult. hard.
IMMUTABLE X & LAYER 2- What are Ethereum rollups?
Celo proposes to become layer-2 of the Ethereum
