Base Blockchain Nears All-Time High As Brett Coin Surges On Technical Breakout
Key Insights:
- Base Blockchain TVL shoots up to $4.45B, nearing the highest levels as daily TVL growth is at 2.63%.
- BRETT Token Breakout – 4.08% growth of BRETT price breaks significant resistance and confirms bullish trend.
- On-Chain User Activity displays growth in activity of decentralized finance, trading, and meme token popularity.
Base blockchain is also close to its record TVL, with $4.45 Billion, representing a 2.63% 24 hour increase. The increase in user activity, DEX trading, and stability coin traction has made Base also a leading Layer-2 platform in terms of total value locked.
The most recent figures show that stablecoins on Base are worth $4.112 Billion. The decentralized exchange (DEX) daily volume is $1.26 Billion, while perpetual volume is $289.64 Million.
During the last 24 hours, the blockchain system paid $307,950 in fees, almost matching the chain’s own revenue of $306,063. Application-specific revenue is recorded at $756,933.
Address activity is also surging. Nearly 1.32 million addresses helped on Base over the last 24 hours on the platform. The total TVL bridged to date is up to $17.48 Billion showing healthy chain cross liquidity.
This is a reflection of past DeFi momentum, with examples such as the Binance Smart Chain crippled in over $20bn in TVL during bull periods.
BRETT Token Moves in Sync with Base Momentum
Bullish price action is being experienced by BRETT, a Base-distributed meme-inspired token as it transacts large price movements based on a technical indicator. At reporting, the BRETT price was $0.07830 which represented a 4.08% increase in the last 24 hours.
CoinMarketCap data shows that the trading volume currently stands at $75.45 Million. This represented a 15.17% drop within the past 24 hours as of press time.
Daily charts point out that there is a breakout from an existing falling wedge pattern. It seems that BRETT is trying to break above the top of the falling trendline based on the historical use of such patterns with bull action.
As soon as this resistance is overcome, many important targets surface. The first resistance point is $0.0966, with future targets at $0.1315 and a further target at $0.1810. These are levels of earlier market moves, and the most optimistic projection implies a 2x retracement from the most recent lows assuming consistent market conditions.
Brett Coin Price Finds Crucial Support
The analysis on the 4-hour timeframe supplements the indicated bullish signals on the daily chart. The recent test at the $0.05 – 00 support zone accompanied by an ascending trendline. This, extending from the April lows, proves that BRETT continues to exhibit a northward course.
The asset briefly retraced down to the $0.0710 region before finding new gales to rise again. It then continued its upward path. The intraday pivot has now shifted to the $0.0710 area.
BRETT’s value growth is not coming out of thin air. Greater amounts of user interactions as well as the expansion of Base’s own liquidity seems to be fueling BRETT’s momentum. Developing wallet use and increased trading volumes in decentralized exchanges are a signal of incoming investments that can be taken advantage of by meme tokens to utilise a piece of this trade.
Blockchain data shows that Base is being used more often by users. Base enjoys increased user engagement compared to most Layer-1 platforms with 1.32 million unique wallets active in the last 24 hours. This is with performance levels similar to that of Optimism and Arbitrum.
The increased interaction with Decentralized Finance platforms and a thriving suite of applications are inflating fees and revenue numbers on Base. This increasing momentum on Base could in the long-run positively affect the Brett coin price
