The arrival of Base Season is driven by explosive growth in TVL and trading volume, strategic support from Coinbase, and the resonance between technological innovation and the meme coin craze. Recently, Base—an Ethereum Layer 2 network incubated by Coinbase—has been capturing market attention with remarkable momentum. Funds and users are pouring in, and the ecosystem's activity is significantly increasing, with trading volumes and Total Value Locked (TVL) rising steadily, hinting at the possibility of a major event on the horizon. Industry insiders have dubbed this phenomenon "Base Season," which could become a highlight of the 2025 crypto market. This article will delve into the underlying logic of Base's growth, explore why funds are flocking in, and recommend several investment directions worth paying attention to, providing investors with forward-looking insights.

The Growth Picture Painted by Data

Base's recent performance can be described as "explosive growth," with multiple key indicators pointing to the potential for a significant event.

Rapid TVL Growth: Base's Total Value Locked (TVL) has surged from $518 million at the beginning of 2024 to over $4 billion today, temporarily surpassing Arbitrum and Optimism to become the leader in the Layer 2 space. This indicates that funds are flowing in at an accelerated pace, and Base's ecosystem is becoming increasingly attractive.

Active Addresses: Base has consistently held the top spot in terms of daily active addresses among Layer 2 networks. Recently, the average number of daily active addresses reached 796,000, far exceeding Arbitrum One (243,500), Immutable (121,500), and other networks such as Manta and Gravity Alpha Mainnet (each around 10,000). The total number of active addresses has exceeded 1.5 million, demonstrating a rapid increase in user participation. During several recent peak periods, the number of addresses has repeatedly exceeded 3.5 million, highlighting the vibrant vitality of Base's ecosystem.

Contract Deployment Sets Record: On March 14, 2025, Token Terminal disclosed on Platform X that Base had deployed 11.4 million contracts in the previous week, setting a new historical record. This number reflects developers' preference for Base's technology stack, with the ecosystem's diversity and innovation capacity rapidly improving.

Staggering Speed of Fund Inflows: According to the latest data from Artemis, in the ranking of net fund inflows over the past seven days, Base topped the list with over $20 billion in net inflows, far surpassing Solana (approximately $15 billion) and other networks such as Polygon, OP Mainnet, and Berachain.

Behind these numbers, the meme coin craze and the prosperity of Base's DeFi ecosystem cannot be overlooked. High activity levels have not only attracted speculative capital but also provided fertile ground for developers. However, the rapid growth of TVL may be partly speculative, and occasional network rollback issues under high trading volumes remind us that Base's infrastructure still needs refinement. Despite these concerns, these signals collectively paint a picture of Base potentially undergoing a significant turning point, possibly officially kicking off the Base Season in the second quarter of 2025.

Why Funds Favor Base

Base's ability to attract such a large amount of funds is inseparable from Coinbase's strategic support. As the first U.S.-listed cryptocurrency exchange, Coinbase has endowed Base with a strong brand effect and user base. Its collaboration with Stripe to introduce USDC support has made Base an ideal choice for low-cost cross-border payments, allowing traditional funds to easily enter the market. There are also market rumors that Base may be spun off from Coinbase and issue its own independent token, a prospect that has further ignited the enthusiasm of early users.

Technically, Base is built on Optimism's OP Stack. The recently launched Flashblocks technology has reduced block time to 200 milliseconds, with transaction speeds even surpassing Solana. Transaction fees as low as less than one cent, compared to Solana's high costs and Ethereum's congestion, have become a key factor in attracting funds. Moreover, Base's ecosystem covers popular areas such as DeFi, meme coins, and SocialFi. The surge in trading volume is driven by speculative capital's fervor. On Platform X, some have joked that whales, dissatisfied with Solana's high costs, may be shifting their focus to Base's low-barrier, high-return environment.

The macro environment has also played a role in fueling this trend. In 2025, during the early days of Trump's new term, the uncertainty of his policies may prompt funds to seek refuge in the crypto market. As a Layer 2 network led by Coinbase, Base, with its compliance and stability, has become a top choice.

Investment Opportunities to Watch

B3

In the wave of Base's ecosystem, several projects stand out and are worth investors' attention. First is $B3, a token that represents Base's Layer 3 ambitions, primarily serving the gaming sector. After its launch on Coinbase and Bybit in February 2025, the price of $B3 surged by 50%. Although the price later declined due to market conditions, the number of holding addresses continued to grow steadily, indicating market recognition of its potential. The support of Flashblocks technology and the expansion of Layer 3 application chains may bring new growth opportunities for gaming projects, although success will still depend on user acquisition and ecosystem integration.

CLANKER

Another highlight is CLANKER. This token, launched by the AI-driven @Clanker tool, has deployed approximately 4,700 tokens with a market cap reaching $113.8 million. Discussions on Platform X suggest that CLANKER is undervalued, especially as it outperforms other tokens during rebounds and may benefit from the expectation of a Coinbase listing.

Aerodrome

In addition, Aerodrome in the DeFi space is also worth paying attention to. As Base's largest decentralized exchange, its TVL exceeds $1 billion, accounting for half of the ecosystem's locked value. Yield farming and liquidity incentive mechanisms have attracted the attention of both institutional and retail investors. Despite fierce competition in the DeFi sector, its growth is still worth expecting.

Investment Advice and Summary

The arrival of Base Season is driven by explosive growth in TVL and trading volume, strategic support from Coinbase, and the resonance between technological innovation and the meme coin craze. The flow of funds from Solana and Bitcoin to Base reflects the market's recognition of its low cost and high potential. However, centralized risks, technical bottlenecks, and regulatory uncertainties remind investors to stay calm.

For investors, in the short term, it is advisable to focus on $CLANKER and $B3 to capture speculative opportunities brought by meme coins and Layer 3. The key is to manage positions carefully to avoid losses from high volatility, while closely following Coinbase's official updates to keep pace with market trends. Base's growth is not without challenges, and its future depends on technological upgrades and the continued prosperity of its ecosystem. In this potential feast of wealth, balancing data-driven insights with risk management may be the key to success.

The arrival of Base Season is driven by explosive growth in TVL and trading volume, strategic support from Coinbase, and the resonance between technological innovation and the meme coin craze. Recently, Base—an Ethereum Layer 2 network incubated by Coinbase—has been capturing market attention with remarkable momentum. Funds and users are pouring in, and the ecosystem's activity is significantly increasing, with trading volumes and Total Value Locked (TVL) rising steadily, hinting at the possibility of a major event on the horizon. Industry insiders have dubbed this phenomenon "Base Season," which could become a highlight of the 2025 crypto market. This article will delve into the underlying logic of Base's growth, explore why funds are flocking in, and recommend several investment directions worth paying attention to, providing investors with forward-looking insights.

The Growth Picture Painted by Data

Base's recent performance can be described as "explosive growth," with multiple key indicators pointing to the potential for a significant event.

Rapid TVL Growth: Base's Total Value Locked (TVL) has surged from $518 million at the beginning of 2024 to over $4 billion today, temporarily surpassing Arbitrum and Optimism to become the leader in the Layer 2 space. This indicates that funds are flowing in at an accelerated pace, and Base's ecosystem is becoming increasingly attractive.

Active Addresses: Base has consistently held the top spot in terms of daily active addresses among Layer 2 networks. Recently, the average number of daily active addresses reached 796,000, far exceeding Arbitrum One (243,500), Immutable (121,500), and other networks such as Manta and Gravity Alpha Mainnet (each around 10,000). The total number of active addresses has exceeded 1.5 million, demonstrating a rapid increase in user participation. During several recent peak periods, the number of addresses has repeatedly exceeded 3.5 million, highlighting the vibrant vitality of Base's ecosystem.

Contract Deployment Sets Record: On March 14, 2025, Token Terminal disclosed on Platform X that Base had deployed 11.4 million contracts in the previous week, setting a new historical record. This number reflects developers' preference for Base's technology stack, with the ecosystem's diversity and innovation capacity rapidly improving.

Staggering Speed of Fund Inflows: According to the latest data from Artemis, in the ranking of net fund inflows over the past seven days, Base topped the list with over $20 billion in net inflows, far surpassing Solana (approximately $15 billion) and other networks such as Polygon, OP Mainnet, and Berachain.

Behind these numbers, the meme coin craze and the prosperity of Base's DeFi ecosystem cannot be overlooked. High activity levels have not only attracted speculative capital but also provided fertile ground for developers. However, the rapid growth of TVL may be partly speculative, and occasional network rollback issues under high trading volumes remind us that Base's infrastructure still needs refinement. Despite these concerns, these signals collectively paint a picture of Base potentially undergoing a significant turning point, possibly officially kicking off the Base Season in the second quarter of 2025.

Why Funds Favor Base

Base's ability to attract such a large amount of funds is inseparable from Coinbase's strategic support. As the first U.S.-listed cryptocurrency exchange, Coinbase has endowed Base with a strong brand effect and user base. Its collaboration with Stripe to introduce USDC support has made Base an ideal choice for low-cost cross-border payments, allowing traditional funds to easily enter the market. There are also market rumors that Base may be spun off from Coinbase and issue its own independent token, a prospect that has further ignited the enthusiasm of early users.

Technically, Base is built on Optimism's OP Stack. The recently launched Flashblocks technology has reduced block time to 200 milliseconds, with transaction speeds even surpassing Solana. Transaction fees as low as less than one cent, compared to Solana's high costs and Ethereum's congestion, have become a key factor in attracting funds. Moreover, Base's ecosystem covers popular areas such as DeFi, meme coins, and SocialFi. The surge in trading volume is driven by speculative capital's fervor. On Platform X, some have joked that whales, dissatisfied with Solana's high costs, may be shifting their focus to Base's low-barrier, high-return environment.

The macro environment has also played a role in fueling this trend. In 2025, during the early days of Trump's new term, the uncertainty of his policies may prompt funds to seek refuge in the crypto market. As a Layer 2 network led by Coinbase, Base, with its compliance and stability, has become a top choice.

Investment Opportunities to Watch

B3

In the wave of Base's ecosystem, several projects stand out and are worth investors' attention. First is $B3, a token that represents Base's Layer 3 ambitions, primarily serving the gaming sector. After its launch on Coinbase and Bybit in February 2025, the price of $B3 surged by 50%. Although the price later declined due to market conditions, the number of holding addresses continued to grow steadily, indicating market recognition of its potential. The support of Flashblocks technology and the expansion of Layer 3 application chains may bring new growth opportunities for gaming projects, although success will still depend on user acquisition and ecosystem integration.

CLANKER

Another highlight is CLANKER. This token, launched by the AI-driven @Clanker tool, has deployed approximately 4,700 tokens with a market cap reaching $113.8 million. Discussions on Platform X suggest that CLANKER is undervalued, especially as it outperforms other tokens during rebounds and may benefit from the expectation of a Coinbase listing.

Aerodrome

In addition, Aerodrome in the DeFi space is also worth paying attention to. As Base's largest decentralized exchange, its TVL exceeds $1 billion, accounting for half of the ecosystem's locked value. Yield farming and liquidity incentive mechanisms have attracted the attention of both institutional and retail investors. Despite fierce competition in the DeFi sector, its growth is still worth expecting.

Investment Advice and Summary

The arrival of Base Season is driven by explosive growth in TVL and trading volume, strategic support from Coinbase, and the resonance between technological innovation and the meme coin craze. The flow of funds from Solana and Bitcoin to Base reflects the market's recognition of its low cost and high potential. However, centralized risks, technical bottlenecks, and regulatory uncertainties remind investors to stay calm.

For investors, in the short term, it is advisable to focus on $CLANKER and $B3 to capture speculative opportunities brought by meme coins and Layer 3. The key is to manage positions carefully to avoid losses from high volatility, while closely following Coinbase's official updates to keep pace with market trends. Base's growth is not without challenges, and its future depends on technological upgrades and the continued prosperity of its ecosystem. In this potential feast of wealth, balancing data-driven insights with risk management may be the key to success.