CoinEx Daily：The Base Chain Generated $19.48 Million Revenue, Parallel EVM Becomes the Potential Narrative

Overview

Daily Macro: The overall market performance is weak, with most cryptocurrencies showing a downward trend. BTC has fallen below $60,000, and ETH has fallen below $3,300.

Daily Focus - Base-themed Tokens: The Base chain generated $19.48 million in on-chain revenue in the second quarter, setting a new record.

Next Focus - Parallel EVM: Parallel EVM might be one of the key narratives in the second half of 2024.

Daily Macro

Bitcoin Market The overall market performance is weak, with most cryptocurrencies showing a downward trend, and market sentiment is in a state of panic. The BTC price has been struggling, even falling below the $60,000 mark. The ETH price dropped by 3.7% within 24 hours, falling below $3,300.

Bitcoin ETF Data shows that on July 2nd, Eastern Time, Bitcoin ETFs experienced a net outflow of $13.7 million, marking the first net outflow in the past week.

Daily Focus

Base-themed Tokens

Reason for Focus: The Base chain generated approximately $19.48 million in on-chain revenue in the second quarter, a quarter-on-quarter increase of about 25%. This data is supported by Token Terminal. Additionally, in the second quarter of 2024, the number of transactions on Base reached 241 million. This indicates significant growth for the Base blockchain in that quarter, showcasing its active performance in the blockchain field.

Performance of Related Tokens:

• $BRETT: Down 5.46% in the past 24 hours, with a market cap of approximately $1.419 billion.
• $AERO: Down 12% in the past 24 hours, with a market cap of approximately $280 million.
• $DEGEN: Down 12.36% in the past 24 hours, with a market cap of approximately $243 million.
• $TOSHI: Down 16.48% in the past 24 hours, with a market cap of approximately $95.38 million.

Market Outlook: Despite the overall struggle of the cryptocurrency market in the second quarter, Base's on-chain revenue and transaction volume achieved considerable growth, demonstrating positive performance within its ecosystem.

Next Focus

Potential Narrative for the Second Half of 2024: Parallel EVM

Reason for Focus: This year, the primary market for cryptocurrencies has been heavily focused on Parallel EVM. For example, Monad announced financing of $225 million at a valuation of $3 billion, and Eclipse raised $50 million. In addition, SEI launched the V2 upgrade, and Fantom introduced Sonic, both supporting parallel EVM to enhance network performance.

Related Assets: Projects in the Parallel EVM sector that have already issued tokens include SEI, FTM, NEON, and CANTO.

How to Participate: Ordinary investors can keep an eye on Parallel EVM projects in the primary market that have not yet issued tokens. They can also participate in already issued parallel EVM projects through cryptocurrency exchanges such as CoinEx.