The Thriving Development and Future Prospects of the Base Ecosystem

Since the end of May 2025, the Base ecosystem has entered a significant period of development. User activity, total locked value (TVL), and daily trading volume have all shown a rapid upward trend. This explosion is mainly driven by the repeated hype of several hot topics within the ecosystem, attracting widespread market attention. From a macro perspective, due to the optimism of investors regarding the stablecoin concept in the global stock market triggered by the listing of a certain payment company, especially against the backdrop of a potentially improving regulatory environment, Base may become a more favored choice for traditional institutions.

Recently, the Base ecosystem has shown the following significant changes:

• The number of active users has experienced exponential growth, recently reaching a historic high of 3.6 million.
• The total locked value surged from 2.8 billion USD in May to nearly 4 billion USD, returning to the peak levels of the 2024 bull market.
• Since May, the average daily transaction count has approached 9 million, reaching the highest level of the 2024 bull market.

Popular Projects in the Base Ecosystem

1. Virtual: Innovative new mechanism ignites market enthusiasm

Virtual is one of the most noteworthy projects in the Base ecosystem recently. With its unique new token issuance mechanism, it quickly attracted a large amount of capital and user participation, becoming the core representative of the current new token issuance narrative in the Base ecosystem. The price of the Virtual token surged from $0.5 in mid-April to a peak of $2.5 in early June, an increase of up to 400%.

The main advantages of the Virtual subscription mechanism include:

• Extremely low financing price
• Token Linear Unlocking Model
• Lower risk of IPO investment
• Incentive mechanism to reduce the probability of project teams absconding

However, as the platform gained popularity, early users frequently adopted the "buy new and sell" strategy to obtain short-term high returns, leading to substantial selling pressure on new projects, which affected the overall stability of the ecosystem. In response, Virtual introduced the "green lock mechanism" in mid-June, imposing a mandatory locking period for new users. Although this mechanism helps to curb early selling and prolong the project lifecycle, it also significantly alters the original speculative logic, forcing the profit cycle for users to be extended, reducing capital efficiency, and causing a periodic decline in market enthusiasm.

2. Kaito: A Pioneer in the Attention Economy

Kaito is a leading project in the "Information Finance (InfoFi)" sector. Since May, Kaito's price has risen from $0.79 to a high of $2.41, an increase of nearly 205%. The core highlight of Kaito is its Yaps module, which tokenizes the "attention" of users based on the content they post on social platforms, incentivizing users to create high-quality content around popular projects, thus building a content-driven influence mechanism for Web3 communication.

Kaito has also launched the Yapper Launchpad system based on points ranking and the AI-driven information network Kaito Connect, achieving a synergistic closed loop among content contribution, points distribution, and project selection. This content-centric model brings a narrative distinct from traditional DeFi to Base, creating new imaginative space in the integration of social and financial sectors.

Base Future Development Trends

In June 2025, the U.S. Senate passed the GENIUS Stablecoin Act, establishing a legislative framework for U.S. dollar stablecoins. Against this regulatory backdrop, a major cryptocurrency exchange began its three major initiatives:

1. Connect with on-chain assets through Base, serving as a compliant entry point for on-chain transactions.
2. Collaborate with traditional financial institutions to issue compliant stablecoins based on Base, promoting the on-chain of traditional financial funds.
3. Build content including on-chain US stocks, compliant payments, DeFi, AI Agent, etc. in the Base ecosystem to attract traditional capital inflow.

Step 1: Open the compliance asset on-chain channel

A certain exchange is promoting the deep integration of its centralized platform with the Base chain, having launched the verification pool feature, allowing KYC users to directly interact with DApps on Base using their account balance, without the cumbersome process of wallet switching and on-chain transfers.

Step 2: Co-construct a compliant stablecoin system with traditional financial institutions

On the basis of opening up the on-chain entry, a certain exchange further collaborates with Wall Street financial giants to pilot the issuance of "compliant stablecoins" and "deposit tokens" on the Base chain. These types of assets are custodized by regulated banks and possess traditional financial attributes such as interest income, legal protection, and bank insurance.

Step 3: Build a Diverse Ecological Scenario

To enhance the practical use cases of on-chain US dollars, the diverse construction of the Base ecosystem covers multiple dimensions:

• On-chain US stock trading
• Global Crypto Payments
• Compliant DeFi and On-chain Lending
• AI Agent and InfoFi are new on-chain gameplay

High-Potential Projects in the Ecosystem

1. Aerodrome: As an ecological leading DEX, it is expected to receive continuous and stable institutional liquidity support.

2. Uniswap: As another DEX that is integrated, it will also gain more on-chain liquidity.

3. Keeta: A high-performance RWA public chain that may engage in deep cooperation with Base in the direction of RWA compliance in the future.

4. Creator Bid: Partnering with Kaito to launch version 2.0, introducing new mechanisms such as staking and new project participation to enhance user engagement.

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 "actively traded" L2 network into a "well-structured" on-chain financial and content infrastructure. Although some hot projects are facing challenges from declining popularity and user speculation in the short term, from a long-term perspective, the narrative sustainability and institutional connectivity demonstrated by the Base ecosystem suggest that it could become an important bridge for traditional capital to enter Web3 in the next phase.