Coinbase’s Base App Launch Triggers 440% Surge in Zora Token
Coinbase has rebranded its Wallet to the Base App, resulting in a surge in SocialFi activity and a significant rally for Zora's (ZORA) token.
- Zora allows users to mint tradable tokens linked to social posts.
- Following the Base app's July 16 launch, daily Zora token creations increased from approximately 4,000 to over 15,000, peaking at 38,000 on July 24.
- Daily trades rose from 30,000 to over 150,000, with trading volume exceeding $6 million daily, up from $1 million.
- ZORA's price surged 440% within a week, rising from $0.011 to $0.0615, and its market cap increased from below $50 million to over $200 million.
- Daily creator earnings jumped from around $1,000 to over $30,000, with more than 12,000 unique creators participating and over 8,000 Zora Smart Wallets active daily.
