Ethereum Layer 2 Base Co-Founder Rejects Behind-the-Scenes Price Manipulation

Responding to neighborhood issues, Base co-founder Jesse Pollak confirmed the group received’t manipulate charts behind the scenes or favor sure belongings.

He clarified that the group is not going to privately coordinate or deploy capital to push an asset’s value towards a selected end result, whereas including that such actions would drawback different belongings, be unsustainable, violate the group’s values round free and open markets, and will seemingly be unlawful.

Base Refuses to Play Favorites

In his newest tweet, Pollak said that the group behind the Coinbase-incubated Layer 2 community will as an alternative concentrate on growing distribution and visibility for high-quality belongings and apps. He additionally acknowledged there may be room for enchancment in these efforts and stated they intend to usher in extra capital and a focus to the ecosystem.

“But base – and each market – deserves to be free, open, and honest, and it’s my job to make sure that stays the case.”

The feedback comply with a dialogue on X questioning why Base was not backing initiatives able to reaching vital market caps. One person even said that such situations usually are not restricted to Base and as an alternative display broader market points the place speculative meme coin tendencies dominate.

Base’s Fee Lead

Base dominated Ethereum’s Layer 2 price panorama after producing roughly $147,000 in every day income on January 14. It accounted for near 70% of complete Ethereum Layer 2 price income on that day. The determine put Base far forward of rival networks, with Arbitrum bringing in about $39,000 and Starknet round $9,000 over the identical interval.

However, this wasn’t the case with most different Ethereum scaling options, similar to Linea, Optimism, Unichain, Ink, zkSync, and Scroll, which struggled to generate significant charges. Many even did not cross the $5,000 mark throughout the day.

Earlier this month, X product lead Nikita Bier shared a screenshot of X’s Smart Cashtags function displaying a hypothetical “Base” token priced at $130 with a $373 billion market cap. This sparked recent hypothesis throughout the trade.

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