onchainsummer

Excitement Builds Around Base’s Upcoming Developments

On June 4, 2025, Jesse Pollak, a key figure behind Coinbase’s Base network, shared a tweet hinting at big things ahead with the phrase “it’s going to be an onchain summer.” His comment has caught the attention of traders and investors, suggesting that new projects or updates on the Base network may be coming soon. Since Base is a layer-2 solution built on Ethereum, it aims to make transactions faster and cheaper—something the crypto community values highly.

Market Conditions Support Layer-2 Growth

This announcement comes at a time when the crypto market is relatively stable. On the same day, Bitcoin was trading around $71,200 and Ethereum around $3,800. These calm conditions create a good setup for investors to focus on new narratives—like growth in layer-2 technologies. Total value locked (TVL) in DeFi also reached $95 billion, showing increased user activity across the ecosystem.

Trading Opportunities for ETH, OP, and ARB

Jesse’s tweet has opened up potential trading opportunities. Ethereum (ETH) could benefit directly, but tokens like Optimism (OP) and Arbitrum (ARB), which are also layer-2 projects, may also see more interest. As of June 4, OP was trading at $2.45 and ARB at $1.12, both showing high trading volumes. A spike in these tokens could happen if Base launches attract more users and activity.

Rising On-Chain and Social Metrics

User interest in layer-2 networks is clearly growing. Glassnode data showed a 15% increase in active addresses across these networks, while mentions of “Base” and “onchain summer” rose by 25% on social media, according to LunarCrush. This shows a positive shift in sentiment that traders are watching closely.

Technical Indicators Suggest Room for Growth

From a technical perspective, Ethereum had a relative strength index (RSI) of 58, meaning it’s not overbought or oversold—leaving room for potential upward movement. ETH’s 24-hour trading volume also jumped 10% to $12 billion, showing increased interest from market participants.

Conclusion: Watch Base for the Next Big Moves

While traditional markets like the S&P 500 stayed flat, crypto markets are showing signs of independent momentum. The buzz around Base and the idea of an “onchain summer” could be a major driver for Ethereum and layer-2 tokens in the coming weeks. Traders should stay alert for new announcements from Base, as they could trigger price moves and set longer-term trends in the crypto space.

#OnchainSummer
$USDC
$ETH
$ARB