Web3 Watch: Base kicks off Onchain Summer 2.0

Coinbase’s layer-2 blockchain Base has welcomed the second iteration of its Onchain Summer, where it will be inviting builders and creators to bring more users onto the blockchain.

To mark the initiation of the event, Base will be hosting a month-long online hackathon beginning June 3 with 200 ETH (~$613,200). worth of rewards to be distributed to finalists. 

In total over the Summer, over 600 ETH (~$2 million) will be offered to creatives in the form of grants, prizes, and gas credits. 

Base launched its mainnet in August last year with Optimism’s OP stack and has quickly become one of the most popular L2s today. According to L2Beat, it currently has a TVL of $5.52 billion and an estimated total market share of 14.18%.

According to a blog post by Base, the previous Onchain Summer saw over 700,000 mints from over 268,000 different wallets and collaborated with companies such as Coca-Cola, FWB, Parallel, anotherblock, and others.

NodeMonkes becomes the most popular Bitcoin NFT

NodeMonkes has become the most popular Bitcoin NFT by market capitalization, with a total market cap of 3,979 BTC ($246 million) and a floor price of $24,603, according to CoinGecko. 

The collection consists of 10,000 8-bit digital collectibles designed to feature animals, predominantly monkeys. Its market cap briefly surpassed that of Bored Apes in March this year and is the 7th most traded NFT in the past 24 hours. 

Another Bitcoin NFT worth noting is Bitcoin Puppets, which surpassed NodeMonkeys in 24-hour trading volume. Bitcoin puppets currently have a market capitalization of 3,230 BTC (~$199 million) and a 24-hour sale price of 0.31 BTC (~$19,200).

One interesting stat:

Uncategorized Ordinals sales are topping charts, with 24-hour sales volumes topping over $4 million.

Also of note: 

• FriendTech token launch receives backlash; the price of its token dips by over 90% following launch.
• Bitcoin “Jesus” Roger Ver was charged with tax fraud by the US Department of Justice after he allegedly evaded $50 million in taxes.

---

Get the news in your inbox. Explore Blockworks newsletters:

• The Breakdown: Decoding crypto and the markets. Daily.
• 0xResearch: Alpha in your inbox. Think like an analyst.