Brett, the “little dog” of the Coinbase network, climbs positions in the cryptocurrency ranking
Key facts:
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On June 9, Brett’s price reached $0.1939, its all-time high (ATH).
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Brett is the mascot of Base Chain, the network developed by the Coinbase platform.
Brett, Base Chain’s main memecoin, continues to climb positions in the cryptocurrency ranking and its market capitalization has already exceeded $1.5 billion.
This token, which bears the image of a blue “dog”, increased its price by 204.8% in the last 30 days and reached its all-time high on June 9, when it reached $0.1939. At the time of publishing this note, its price is $0.1559.
Brett is inspired by the comic Boy’s Club created by Matt Furie, the artist behind memecoin icon PEPE. For this reason, this token is known as the best friend of the popular frog.
As CriptoNoticias already reported, memecoins are digital assets created as jokes, inspired mainly by Internet memes. They can also be based on various breeds of dogs, lizards, foods, and famous people or politicians. In fact, its creators and followers They assure that they serve to have fun.
The practical usefulness of these assets is generally zero, since they are mostly used only for financial speculation. Therefore, just as they tend to increase in price easily, they also tend to lose their value quickly and unpredictably.
However, Base Chain creator Jesse Pollack has a vision different about these assets and is betting heavily on its proliferation. He considers:
“I think memes are an important part of the on-chain economy and I’m excited to see more memes based on it proliferate to help get the world on-chain.”
Jesse Pollack, creator of Base Chain.
In the case of Brett, its popularity continues to increase and exchanges such as Bybit, OKX, CoinDCX, BingX and Kukoin included it in their list of cryptocurrencies. However, it still remains to be incorporated into Binance or Coinbase (the largest exchanges in the world), which is why investors take it as a sign of its bullish potential. Additionally, his Base Chain mascot image has a strong presence on social media.
Brett was also present at Euro 2024 through an advertisement in which he appears participating in a soccer match. In the last few hours, a video of Brett circulated that was played on a fan festduring the match between Germany and Hungary.
Another achievement of Brett was that this June 19 it surpassed Bonk, the Solana network token, in terms of market capitalization and is the sixth memecoin, according to data from CoinMarketCap.
According to the official site, the Base Chain mascot has a maximum supply of 10 billion, of which 85% will provide liquidity to the system and will remain locked for one year. Meanwhile, another 10% goes into a treasury for the development of the ecosystem, and 5% will be used for Brett’s CEX (Centralized Exchange Wallet) wallet.
This token distribution is designed to drive growth of the project and make it more accessible to potential investors.
According to Google Trends, the interest index in search terms reached a peak of 100% in the week of June 2 to 8, when its ATH was recorded, as seen in the following graph:
Meanwhile, in the same search engine, it is highlighted that the countries that showed the greatest interest in this memecoin are Pakistan and Australia.
There are currently 329,364 holders who have this token.
What network does Brett memecoin work on?
The Brett token uses the Base chain, an Ethereum layer 2 network designed by Coinbase, a cryptocurrency exchange.
Base Chain was launched in August 2023 and emerged with the goal of providing users with a secure, low-cost, and easy-to-use environment.
As CriptoNoticias already reported, this network was designed to move transactions from the main chain to a side chain. To do this, it uses the rollup protocol that compresses several transactions on the side chain and then stores them on the main chain. This allows Base to process more transactions per second than the Ethereum mainnet.
These transactions can be sending ether (ETH), tokens, or signing smart contracts.
Since its launch, this ecosystem is expanding rapidly and, at the same time, products and applications are being created.
As seen in the following graph, Base has a total value locked (TVL) of 1,622 million dollars. In this network, the decentralized exchanges that lead this market are: Aerodrome, Uniswap and Extra Finance, according to data from DeFillama.com.
In terms of adoption, Base Chain already has a total of 14 million users. In this regard, Pollak reported that last June 8 was the grid most used on the decentralized exchanges Uniswap and Aave.
Base’s rapid growth is due to several factors. First of all, Its integration with Coinbase makes access easier for users, as they can use their existing accounts to participate in the network. Additionally, it offers attractive incentives for users who stake and validate transactions.
