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Coinbase’s Base Ecosystem: A Data-Driven Look at Its Growth and Key Metrics

Launched in August 2023, Coinbase's Base, an Ethereum Layer 2 network, has rapidly gained traction and showcases a significant uptick across a set of key metrics. Over the past 20 months, Base has extended its reach into decentralized finance, artificial intelligence, and consumer social media—a trifecta of market segments poised to make the most of its capabilities. By sizing the Base ecosystem and taking stock of its chain data, we can get a clear sense of where this new blockchain is headed and the next kinds of opportunities its backers can expect. Base’s Economic Growth: The Chain’s GDP and Top Contributors One of the most vital signs of any blockchain's success is its Gross Domestic Product (GDP), which mirrors the total of all fees amassed by the applications on the chain. Base's GDP stands at a staggering $758.7 million, making […]

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Coinbase Users Fall Victim to $46 Million in Suspected Scams: A Closer Look at Recent Hacks

A worrying turn of events for the crypto world, a blockchain investigator by the name of Zachxbt has put together a report suggesting that users of the popular exchange Coinbase have been falling prey to high-dollar thefts of late, with the value of those thefts adding up to an eye-popping $46 million in just the past couple of weeks. The shadiest dealing associated with this report seems to have gone down last Thursday, when a Coinbase user was seen getting scammed out of $34.9 million— The traced stolen funds have a not-so-simple story to tell. This is because they pass through Thorchain and Chainflip, two decentralized cross-chain protocols, before being exchanged for DAI (a decentralized stablecoin). These thefts in a series of complex hacks really test the security of the cryptocurrency ecosystem. With so many complex methods of robbing coins, […]

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