Base Continues Dominant Run 🏆

GM. This is Degen Scoop. It’s Monday, here’s the scoop:

• Base Continues Dominant Run 🏆

• Next Ethereum Upgrade Expecting Delay 🐢

• Google Cloud Increases Crypto Support ☁️

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Base Continues Dominant Run, Passes Solana in TVL

Coinbase's L2 Base has seen its TVL rage to $397M and has now surpassed Solana's TVL of $358.9M. Over the past month, Base's TVL has witnessed remarkable growth increasing by 97.21% mainly due to two projects: Aerodrome Finance and Friend.tech. While the VCs continue to pour money into infrastructure plays, it’s clear that crypto users just want killer apps. A degree of ponzinomimcs doesn’t hurt either.

Beyond these projects, Base's TVL is primarily driven by protocols like Compound, Curve, and Uniswap. Although daily transactions on Base have decreased to around 908,000 down from a peak of 1.88M in mid-September, the network's growth and performance remain noteworthy in the prolonged bear market that seems without end.

Ethereum Upgrade Dencun’s Arrival May Be Pushed to 2024

The next Ethereum network upgrade Dencun may face delays, potentially pushing its deployment to early next year. The focus of the upgrade will be upon Ethereum's scalability issues through EIP-4844 which will reduce transactions on rollups even further. Concerns about this delay were raised during an Ethereum consensus-layer meeting.

Tim Beiko expressed worries that without Dencun being introduced on a public testnet before Devconnect in November, it might not reach mainnet this year. The timeline for Dencun's mainnet deployment hinges on the readiness of code, all of which need testing on public testnets. Presently Dencun has limited time left in the year for thorough testing, so we may not get the cheaper rollup transactions until 2024.

Google Cloud Adds More Blockchains in Support, Includes Arbitrum, Avalanche, Polygon, and Others

Google Cloud has expanded its public data sets by adding 11 more blockchains. This will give users the ability to query data from chainslike Avalanche, Arbitrum, Ethereum Goerli, and more. This additional blockchain support aims to provide users with insights into various blockchain activities, such as asset transfers and interactions with smart contracts.

Google Cloud initially added support for Bitcoin and Ethereum in 2018 and has continued to expand its blockchain-related offerings, including support for Bitcoin NFTs with the introduction of ordinals in January 2023. Additionally, Google Cloud has taken steps to serve as an oracle operator for LayerZero, a cross-chain messaging protocol, demonstrating its commitment to blockchain technology.

Notable NFT Sales Over the Weekend:

Notable Threads You May Have Missed:

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.