The Base ecosystem is entering an explosive growth phase, with multiple popular projects leading new trends.

Since the end of May 2025, the Base ecosystem has entered a noticeable "explosion period". The daily active addresses of ecological users, the total locked value ( TVL ), and the daily transaction volume have all shown a rapid upward trend. This explosion is mainly driven by the successive hype of several popular narratives within the ecosystem, attracting widespread market attention. From a macro perspective, with the potential improvement of the regulatory environment, Base may become a more favored choice for traditional institutions.

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

1. The number of active users has grown exponentially, recently reaching a historic high of 3.6 million.

2. The total locked value ( TVL ) has rapidly increased, rising from 2.8 billion USD in May to nearly 4 billion USD at its peak, returning to the highest level of the bull market in 2024.

3. The on-chain trading activity has increased, with the average daily transaction count approaching 9 million since May, reaching the highest point of the bull market in 2024.

Popular Projects in the Base Ecosystem

Virtual: Innovative New Mechanism Ignites Market Enthusiasm

Virtual is one of the most关注 projects in the recent Base ecosystem. With its innovative subscription mechanism, the project quickly attracted a large amount of capital and user participation, becoming the core representative of the current subscription narrative in the Base ecosystem. The price of the Virtual token has risen from $0.5 in mid-April to a high of $2.5 in early June, an increase of 400%.

The core advantages of the Virtual IPO mechanism include:

• Extremely low financing price: Each new project raises funds with a market value of $224,000, allowing users to participate in financing at a very low price, with significant potential for profit.

• Token Linear Unlocking: New projects adopt a transparent token economic model to unlock in batches, rather than unlocking all at once.

• Low-risk participation: Projects that do not successfully raise funds will provide a full refund to users, and only a small number of high-quality projects will be released daily.

• Reduce the likelihood of project teams absconding: set a 1% service fee, of which 70% is returned to the project team, creating a positive ecological closed loop.

However, as the platform gained popularity, early users frequently adopted the "buy new and sell" strategy to obtain short-term high returns, resulting in significant selling pressure on new projects. In response, Virtual launched the "Green Lock Mechanism" in mid-June, imposing a mandatory lock-up period for new buyers. While this mechanism helps to suppress early selling and extend the project lifecycle, it has also significantly altered the original speculative logic, leading to a periodic decline in market enthusiasm.

Kaito: Leader in the attention economy sector

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

Kaito has also launched the Yapper Launchpad system based on point rankings and the AI-driven information network Kaito Connect, achieving a collaborative closed loop among content contribution, point distribution, and project selection. This model, which uses content as a value anchor, brings a new narrative to Base that is distinct from traditional DeFi, opening up new imaginative spaces in the integration of social and financial sectors.

Future Development Trends of Base

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

1. Establish interaction channels with on-chain assets through Base, serving as a compliant on-chain trading entry.

2. Collaborate with traditional financial institutions to issue compliant stablecoins based on Base, promoting the on-chain flow of traditional financial capital.

3. Establish content within the Base ecosystem, including on-chain US stocks, compliant payments, DeFi, AI Agents, etc., to attract traditional capital inflow.

Open the compliance asset access channel to the blockchain.

A certain trading platform is promoting the deep integration of its centralized trading platform with the Base chain, launching the Verified Pools feature, allowing KYC users to directly use their account balances to interact with DApps on Base. It has been announced that a certain DEX platform will serve as its on-chain trading DEX platform.

Build a compliant stablecoin system together with traditional financial institutions

The trading platform is partnering with Wall Street financial giants to pilot the issuance of "compliant stablecoins" and "deposit tokens" on the Base chain. These assets are directly custodied by regulated banks and possess traditional financial attributes such as interest income, legal protection, and bank insurance, far exceeding the trust foundation of general crypto stablecoins.

Build a diverse ecological scenario

To enhance the practical use cases of on-chain US dollars, the platform is simultaneously promoting the diversification of the Base ecosystem, covering the following dimensions:

• On-chain U.S. stock trading: Plans to launch tokenized stock products that allow users to trade U.S. stocks on-chain.

• Ecological linkage with payment networks: Providing a stronger clearing infrastructure for USDC.

• Global Crypto Payments: Collaborate with e-commerce platforms to integrate stablecoins into the e-commerce checkout process.

• Compliant DeFi and On-chain Credit: Guiding DeFi projects to operate compliantly through KYC modules.

• AI Agent and new on-chain gameplay like InfoFi: create more on-chain innovative gameplay to attract traditional users to participate.

High-Potential Projects in the Ecosystem

1. A certain DEX: With the plan to integrate Base chain DEX into the main application, it is expected to gain continuous and stable institutional liquidity support.

2. Another DEX: As an integrated DEX, it will gain more on-chain liquidity, enhancing the platform's potential revenue.

3. Keeta: A high-performance RWA public chain, featuring tens of millions of TPS and sub-second transaction confirmation. It is expected to 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 offerings to enhance user participation and expand creator economy gameplay.

5. Upside: The first social-oriented prediction market platform on Base, where users can convert social media content into "content Tokens" and engage in voting and trading.

Currently, Base is gradually evolving from an "actively traded" L2 network into a "well-structured" on-chain financial and content infrastructure. From innovative mechanisms to the construction of an on-chain dollar value system, although some hot projects face challenges from declining interest and user speculation in the short term, from a long-term perspective, the narrative sustainability and institutional linkage capabilities demonstrated by the Base ecosystem suggest that it may become a bridge for traditional capital to enter Web3 in the next stage. For investors, Base is no longer just a hot rotation track, but an important sample for observing the transformation path of the crypto industry towards "compliance, financialization, and practicality."