"Degen Chain Sparks Million-Dollar Profits with Base Meme Coins"

1 min read
Source: CoinDesk
"Degen Chain Sparks Million-Dollar Profits with Base Meme Coins"
Photo: CoinDesk
TL;DR Summary

Degen Chain, a new layer-3 blockchain, has seen a surge in transactional volume and attention since its launch, with its native DEGEN token skyrocketing 500%. Despite primarily housing speculative tokens and lacking stablecoin support, the network has recorded nearly $100 million in transactional volumes in the past 24 hours alone, with over 7,500 contracts and 2,300 tokens floated, albeit mostly rug pulls or scams. Degen Chain is a layer-3 network built specifically for the DEGEN token, aiming to handle specific types of transactions such as payments and gaming.

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