Meme Coins on Degen Chain Flourish as New Layer 3 Racks up Millions in Volumes

Meme Coins on Degen Chain Flourish as New Layer 3 Racks up Millions in Volumes


Degen Chain, a new layer-3 blockchain, has attracted significant attention and transactional volume since its introduction on Thursday. Its native DEGEN token has zoomed 500% since its release. The network does not have a supported stablecoin and primarily housed speculative tokens as of Monday, but that hasn’t stopped speculators from trading millions of dollars in volumes.

The hot ball of money chasing meme coins from Solana to Base networks has found its way to Degen Chain, a so-termed layer-3 blockchain built on top of Base that began operations last Thursday.

The four-day-old network has recorded nearly $100 million in transactional volumes in the past

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