On April 17, 2025, Jesse Pollak announced via Twitter that Base, a layer-2 scaling solution for Ethereum, aims to be inclusive of all content types, including memes, which triggered significant market reactions.

Following this announcement, the price of Base's native token, BASE, surged by 7% to $1.25 at 10:00 AM UTC, accompanied by a trading volume spike of 1.5 million BASE tokens within the first hour.

On-chain metrics indicated a notable increase in active addresses on the Base network, rising from 5,000 to 7,500, reflecting strong community engagement.

In line with this growing interest, the total value locked (TVL) in Base-related DeFi protocols increased by 15% to $500 million, showcasing confidence in Base's infrastructure.

Traders reacted quickly across various platforms; for instance, the trading pair BASE/USDT on Binance saw a volume increase of 180%, signaling heightened interest among traders.

Similarly, trading volume for BASE/ETH on Uniswap surged by 250%, reaching 2 million BASE tokens within three hours, indicating strong demand from the decentralized finance (DeFi) sector.

On Kraken, the BASE/BTC pair experienced a 5% volume increase within two hours, totaling 100,000 BASE tokens traded.

The correlation between BASE and major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) increased to 0.65, suggesting a closer relationship in price movements.

In addition to BASE, other Ethereum-based tokens like Ether (ETH) also saw increased activity, with ETH rising by 2% to $3,500 shortly after the announcement.

Technical indicators for BASE showed a 'golden cross' at 11:45 AM UTC, indicating potential long-term bullish trends as the 50-day moving average crossed above the 200-day moving average.

Moreover, the Relative Strength Index (RSI) for BASE reached 72 by 11:00 AM UTC, suggesting potential overbought conditions, while the Moving Average Convergence Divergence (MACD) signaled a bullish trend.