Data Analysis: Understanding Base's Development Through the 2024 Roadmap
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Data Analysis: Understanding Base's Development Through the 2024 Roadmap
Base ecosystem warms up, quietly achieving its 2024 goal.
Navigating Web3 tides with focused insightsAuthor: shaofaye123, Foresight News
Recently, AI tokens across the Base ecosystem have seen broad gains: VIRTUAL surged 37% in 24 hours; LUNA rose nearly 25%; AIXBT reached a market cap of up to $200 million; SEKOIA and GAME by Virtuals (GAME) both posted over 100% growth in 24 hours, demonstrating strong wealth-generation effects. With steadily increasing net capital inflows and rising developer activity, Base's ecosystem performance has been exceptionally impressive. This article provides a data-driven overview of Base network’s developers, ecosystem dynamics, and capital market trends throughout 2024.
Initial Roadmap for 2024
In January, Base released its 2024 strategy and roadmap, positioning itself as an economy composed of three core components: a developer platform, an application ecosystem, and a capital market—each forming the foundation of its development goals. The vision aims to accelerate decentralization while improving network usability, significantly reducing fees, setting smart wallets as default, simplifying onboarding to blockchain, and integrating Coinbase directly into the chain. As the year draws to a close, Base has once again captured widespread attention through advancements in AI agents. Its 2024 roadmap appears to have been quietly accomplished.
Steady Growth in Developer Activity
On-chain developers are crucial for public blockchains, responsible for building and deploying smart contracts, decentralized applications (DApps), and other blockchain-based technical solutions. They drive innovation and diversify use cases, serving as the core value source of any blockchain. Active developers bring continuous innovation to the ecosystem, which in turn attracts capital inflows, creating a positive flywheel effect.
At the beginning of the year, Base identified on-chain developers as one of the three key pillars of its economic model. By July 2024, according to Developer Report data, Base achieved an average of 3,991 monthly active developers, with nearly 900 full-time active developers—second only to Ethereum. This represents a 52% increase, making it the fastest-growing among all blockchain networks and establishing Base as the second-largest developer-active public chain ecosystem.
Source: https://www.developerreport.com/
Additionally, Base offers numerous incentives for developers. As a standardized EVM-compatible chain, it enables easier contract deployment, further boosting on-chain activity. According to Dune data (@sixdegree), the number of new contracts created monthly on Base continues to grow steadily.
Source: https://dune.com/sixdegree/base-blockchain-overview
Ecosystem Becomes Increasingly Diverse
The Base ecosystem includes DeFi but extends far beyond it—66% of its active on-chain applications are non-DeFi. Base has excelled particularly in NFTs, social applications, and AI domains.
Recently, various AI tokens within the Base ecosystem have experienced significant price increases, generating notable wealth effects. SEKOIA and GAME by Virtuals (GAME) both surged over 100% in 24 hours. Concurrently, transaction volume on Base has grown rapidly. According to Dune data (@watermeloncrypto), transaction activity hit a new peak of 11.44 million on November 26. Compared to early 2024, the number of transactions has increased 42-fold, clearly showcasing Base’s immense developmental potential.
Source: https://dune.com/watermeloncrypto/base
Beyond transaction count, user engagement has also risen significantly. Data from Dune (@watermeloncrypto) shows that weekly active addresses on Base surged from 300,000 in January to 6.57 million in November, peaking at 7.19 million on October 7—an increase exceeding 2,000%.
Source: https://dune.com/watermeloncrypto/base
Continuous Capital Inflows in the Capital Markets
As the ecosystem heats up, capital markets continue to see sustained inflows. According to L2BEAT data, as of November 29, Base’s total value locked (TVL) surpassed that of Optimism, making it the second-largest Layer 2 network, trailing only Arbitrum.
Source: https://l2beat.com/scaling/summary
Furthermore, Token Terminal data indicates that Base’s revenue is also growing steadily, showing consistent month-over-month increases since September.
Source: https://tokenterminal.com/
Notably, Artemis data reveals that in November 2024, Base surpassed Solana in net capital inflow, with monthly inflow velocity continuing to rise. Sustained capital inflows into Base reflect that its ecosystem is still on the verge of explosive growth.
Source: https://app.artemis.xyz/home
Conclusion
At the start of 2024, Base set forth a mission: to build a global on-chain economy that fosters innovation, creativity, and freedom. Recently, whether measured by developer activity or ecosystem diversity, Base has shown continuous growth, with accelerating capital flows. Judging from all available metrics, Base is steadily moving forward toward its vision.
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