Base and Zora’s Boom — Is SocialFi Web3’s New Frontier?
Base, an Ethereum layer-2 network launched by Coinbase, has surpassed Solana’s daily token creation, driven by Zora’s Creator Coins and Coinbase’s shift to social finance (SocialFi).
This development shows SocialFi’s growing influence in the cryptocurrency sector and its effects on creators, traders, and blockchain ecosystems.
Zora’s $470M Trading Boom Powers Base’s Rise Over Solana
The token creation boom on the layer-2 network is powered by Zora, an on-chain social network that tokenizes content as Creator Coins.
On July 28, 2025, Zora minted 51,575 tokens in a single day, representing 67.7% of all token creations across Base and Solana, surpassing Solana’s Pump.fun with 4,173 tokens and LetsBonk with 22,554 tokens, according to Dune Analytics.
This is a 693% increase from Zora’s typical 6,500 tokens daily, as confirmed by Coinbase director Conor Grogan on X.
Each Creator Coin has a fixed supply of 1 billion tokens, with 50% streamed to the creator over five years and 1% of each trade redirected to the creator in $ZORA, according to data from Dune analytics.
Zora has issued over 1.6 million Creator Coins, engaged 2.9 million unique traders, and recorded $470 million in trading volume, per Dune Analytics.
The $ZORA token increased approximately 227% weekly with Base App’s July 2025 reopening and is over 500% higher in the past month, despite declining 14% last week.
ZORA Price Chart (Source: CoinMarketCap)
Base’s SocialFi Shift Attracts Millions to Zora and Farcaster
In July 2025, Coinbase rebranded its app as a SocialFi portal, driving user adoption and token activity. By leveraging the sidechain’s low-cost Ethereum layer-2 infrastructure, Coinbase has established itself as a social finance hub, incorporating platforms such as Zora and Farcaster.
In contrast, Solana has faced setbacks, including eight major and ten minor network outages, notably a 5-hour disruption in February 2024, and a 15 million SOL token unlock in March 2025, estimated at approximately $2.5 billion, resulting in a 60% price drop from $261 to $104.
Market analysts note that Zora’s users are mostly traders, with a high ratio of trading activity. While the precise proportion remains unknown, sources confirm a trader-heavy ecosystem, raising questions about the balance between speculative trading and content creation.
Governance and Speculation: The Challenges Facing Zora’s Rise
The quick rise of Creator Coins has started debate over their long-term viability. Critics, including Solana co-founder Anatoly Yakovenko, argue that these tokens are speculative, lacking cash flow or asset backing.
Governance concerns surrounding Zora also remain, though specific details remain limited, as noted in X posts. Speculative trading patterns could lead to regulatory oversight.
Base’s token creation dominance may solidify it as a SocialFi leader, attracting developers and reshaping creator economies through tokenized content. However, its success relies on addressing speculation while improving use cases.
