Recent Development Dynamics and Future Trend Analysis of the Base Ecosystem

1. Recent Changes in the Base Ecosystem

Since the end of May 2025, the Base ecosystem has shown a clear "explosive period". User activity, total locked value ( TVL ), and daily trading volume have all shown a rapid upward trend. This wave of growth is mainly attributed to the continuous hype of several popular narratives within the ecosystem, attracting significant market attention. From a macro perspective, as the concept of stablecoins gains favor in the global stock market, especially against the backdrop of a potentially improving regulatory environment, Base may become a more favored choice for traditional institutions.

Key Growth Indicators:

1. The number of active users has seen exponential growth, recently reaching a historic high of 3.6 million.

2. The total locked value ( TVL ) rapidly climbed from 2.8 billion dollars in May to a high point of nearly 4 billion dollars, returning to the highest level of the 2024 bull market.

3. The on-chain daily trading volume has approached 9 million transactions since May, reaching the peak level of the bull market in 2024.

2. Analysis of Popular Projects in the Base Ecosystem

1. Virtual: Innovative new mechanism ignites market enthusiasm

Virtual has rapidly attracted a large amount of capital and user participation as one of the most关注的项目 in the recent Base ecosystem due to its innovative new issuance mechanism. The price of the VIRTUAL token has risen from $0.5 in mid-April to a peak of $2.5 in early June, an increase of 400%.

The core advantages of the Virtual IPO mechanism:

• Extremely low financing price: Each new project raises funds with a market value of 42,425 VIRTUAL (approximately $224,000), providing users with an opportunity to participate at a very low price.
• Token linear unlocking: Adopts a transparent token economic model similar to VC projects, unlocking in batches.
• Low-risk participation: Full refund for failed fundraising, and only a small number of high-quality projects are released daily.
• Reduce the risk of project parties running away: Set a 1% fee, of which 70% is returned to the project party, encouraging long-term operation.

However, as the platform's popularity increased, early users frequently employed the "buy and sell on new listings" strategy to obtain short-term high returns, leading to 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 listing users. Although this mechanism helps to extend the project lifecycle, it also significantly alters the original speculative logic, resulting in a prolonged profit cycle for users, decreased capital efficiency, and a phase-wise decline in market enthusiasm. The price of VIRTUAL subsequently fell from its high point to $1.69, a drop of over 37%.

2. Kaito: Pioneer in the attention economy

Kaito, as the leading project in the "Information Finance (InfoFi)" sector, has seen its price rise from $0.79 to a peak of $2.41 since May, 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" on the content they publish on social media platforms, thus building a content-driven influence mechanism for Web3 communication.

Kaito's innovation:

• Content Creation Incentives: Stimulate community engagement through weekly airdrops and leaderboard rewards.
• Yapper Launchpad: A project incubation system based on point rankings.
• Kaito Connect: An AI-driven information network that creates a collaborative closed loop for content contribution, points allocation, and project selection.

This content-centric value anchoring model brings a unique new narrative to the Base ecosystem, opening up new imaginative spaces in the intersection of social and financial integration.

3. Future Development Trends

With the U.S. Senate passing the GENIUS Stablecoin Act, a legislative framework for USD stablecoins has been established, and the regulatory environment is gradually becoming clearer. Against this backdrop, a certain platform as a compliant exchange has begun its three major strategic layouts:

1. Open up the compliance asset onboarding channel: Launch the verification pool feature, allowing KYC users to directly interact with DApps on Base using their platform account balance.

2. Co-construct a compliant stablecoin system with traditional financial institutions: Collaborate with Wall Street financial institutions to pilot the issuance of "compliant stablecoins" and "deposit tokens" on Base.

3. Build a diverse ecological scenario:

   • Apply for on-chain access for US stocks, planning to launch tokenized stock products
   • Collaborate with payment companies to integrate stablecoins into the e-commerce checkout process
   • Guide DeFi projects to operate in compliance through the KYC module.
   • Develop AI Agent and innovative applications such as InfoFi

Through these three major initiatives, a certain platform has not only built a "fast track" for compliant assets to enter the blockchain, but also created a complete value closed loop for US dollar stablecoins, from fiat currency on-chain to on-chain deposits and circulation, and then to the actual implementation of use cases.

High-Potential Projects in the Ecosystem

1. A certain DEX platform: As a leader in the ecosystem, it is expected to gain continuous support from institutional liquidity, driving growth in trading volume, TVL, and platform revenue.

2. A cross-chain DEX: It will similarly benefit from platform integration and obtain more on-chain liquidity.

3. Keeta: A high-performance RWA public chain, focusing on tens of millions of TPS and sub-second transaction confirmations, and may engage in deep cooperation with Base in the direction of RWA compliance in the future.

4. Creator Bid: Launching version 2.0, introducing new mechanisms such as staking for new projects, enhancing user participation and expanding creator economy gameplay.

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

Overall, Base is gradually evolving from an "active trading" L2 network into a "well-structured" on-chain financial and content infrastructure. Although some hot projects face challenges from a decline in enthusiasm and speculative behavior from users in the short term, in the long run, the narrative continuity 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. For investors, Base is not only a track of hot rotation but also a key sample for observing the "compliance, financialization, and practicality" transformation path of the crypto industry.