Meme coins on the Base Blockchain showed notable performance on Wednesday as the cryptocurrency market rebounded. Brett, the largest token in this ecosystem, surged by over 18%, pushing its market cap to nearly $1.5 billion.

Basenji (BENJI) experienced a significant gain on Wednesday morning, more than doubling in value. Meanwhile, Degen saw a 35% increase. These strong gains are attributed to a more positive sentiment in the crypto universe as Bitcoin reclaimed the $65,000 level. Typically, altcoins and Bitcoin are positively correlated.

Another reason for the surge in these tokens is the thriving Base Blockchain ecosystem. Data indicates that the network’s total value locked (TVL) has rebounded to $1.45 billion, making it the 7th-largest platform in the industry, trailing behind Ethereum, Solana, Tron, BSC, Arbitrum, and Blast.

Most dApps in the ecosystem recorded inflows on Wednesday, with Uniswap, AAVE, and UNCX Network leading the way. The network also welcomed Morpho, a DeFi network with over $1.8 billion in assets.

Brett Gains Further Recognition

Brett benefited from an encouraging announcement as its perpetual futures are now listed on Kraken, one of the biggest exchanges globally. Many cryptocurrencies tend to rally after being listed by a leading exchange like Kraken or Binance. Brett was also listed by CoinDCX, a leading Indian exchange.

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The ongoing assumption is that these and other crypto exchanges will also list Basenji and Degen.

Brett and Basenji are meme coins aiming to replicate the success of other popular tokens in Ethereum and Solana. On the other hand, Degen is a blockchain network that rewards users for posting content. It has over 465k holders and has handled over 6 million transactions.

For more updates on the latest in cryptocurrency, investing, and finance, stay tuned to Global Crypto News.

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