Ethereum’s new Layer-2 network Base debuted in 2024 and rapidly established itself as a go-to platform for retail traders whose ideal it is that transactions “be fast and cheap,” according to co-founder and CEO David Lim. Although Ethereum founder Vitalik Buterin has urged developers not to build their Layer-2 solutions “for the sake of advertising,” Base’s launch was widely viewed and narrowly celebrated as an Ethereum success story. Lately, though, Base has been finding life pretty tough. The cryptocurrency “market has faced a downturn not seen since early 2023,” and so far, our Layer-2 darling has no apparent way to
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