Coinbase’s Ethereum-adjacent blockchain Base opened to the public today, but crypto whales have already been trading high-risk tokens on the new layer 2 network and other blockchains for days. According to a report by Nansen, these 22 high-rolling depositors to Base have large positions in Arbitrum’s governance token ARB, casino token RLB, and memecoins BALD, TOSHI, PEPE and HarryPotterObamaSonic10Inu (BITCOIN). UNIBOT, the Telegram trading bot token, is also among the top tokens held by these whales.
There is a heavy memecoin bias in the selection of these whales, said Nansen analyst Niklas Polk. There was not much else to do on Base except aping meme coins, hence most of the whales in the report have some affinity to this.
The 22 early Base whales, who had the most interactions with 1inch, Uniswap, Base, 0x, USDC and Unibot, show how heavily leaning towards Ethereum and L2 ecosystems, wrote Nansen research analyst Jake Kennis. Their interactions with well-established DEXs, L2 bridges, and especially the noticeable presence of Unibot, shows the adoption of Telegram bots and new applications.
With more apps coming online (DEXs/lending), we will likely see a more mature ecosystem not solely revolved around memecoins, Kennis said.