Coinbase’s recent transformation of its digital wallet into the newly minted Base App has sent ripples across the cryptocurrency landscape, fueling an extraordinary surge in the value of Zora’s token—ZORA. The rebranding, announced on July 16, has ignited a SocialFi frenzy, catapulting ZORA to the forefront of this emerging trend. For more insights into Coinbase’s strategic moves, see our Asia Morning Briefing on Coinbase’s rebranding efforts.
The SocialFi Surge
Within days of Coinbase’s rebrand announcement, Zora’s platform witnessed an unprecedented spike in activity. Users flocked to the app, drawn by its novel features that seamlessly integrate social interaction with blockchain technology. The Base App not only allows users to post and chat but also facilitates one-tap token minting—a feature that has evidently captured the imagination of crypto enthusiasts.
Zora, a platform that enables the minting of tradable tokens tied to individual social posts, experienced a staggering increase in token creation. According to data from Dune, daily Zora token mints skyrocketed from around 4,000 to a peak of 38,000 by July 24. Daily trades mirrored this surge, escalating from 30,000 to over 150,000, while trading volume swelled from a modest $1 million to a robust $6 million per day.
ZORA Token’s Meteoric Rise
The frenzy surrounding the Base App’s features has translated into a remarkable 440% increase in the price of ZORA over the past week. The token’s value leaped from $0.011 to $0.0615, and its market capitalization soared from just under $50 million to over $200 million, as reported by CoinMarketCap. This meteoric rise has undoubtedly caught the attention of both retail investors and institutional players in the crypto space. For a broader perspective on the potential of crypto integration, see Coinbase CEO’s vision of a ’10x Unlock’ for AI.
Industry experts are buzzing with speculation about the broader implications of this SocialFi phenomenon. “The integration of social features with blockchain technology is not just a fleeting trend—it’s a paradigm shift,” suggests crypto analyst Lara McKenzie. “What we’re seeing with Zora and the Base App is a glimpse into the future of decentralized social networks.”
Creator Earnings and Market Impact
As Zora’s platform attracted an influx of new users, creator earnings surged in tandem. Daily payouts, which hovered around $1,000, have ballooned to over $30,000, with more than 12,000 unique creators joining the platform. The number of active Zora Smart Wallets exceeded 8,000 each day during this boom, underscoring the widespread enthusiasm for SocialFi.
Yet, this phenomenal growth raises questions about sustainability. Can the momentum be maintained, or will the initial excitement fade? Some analysts caution that while the current trajectory is impressive, the market could face volatility as it adjusts to this new dynamic. “The rapid adoption is promising, but there’s always the risk of a bubble,” warns blockchain strategist Alex Chen. “Investors should keep an eye on market fundamentals.”
Looking Ahead
As we move further into 2025, the transformation of Coinbase’s Base App and the subsequent rise of Zora serve as a testament to the dynamism of the cryptocurrency market. The SocialFi boom has not only invigorated ZORA but also sparked a broader conversation about the convergence of social media and blockchain technology.
Whether this trend represents a lasting shift or a temporary surge remains to be seen. However, one thing is clear: the marriage of social networking and decentralized finance is poised to redefine how we interact with digital assets. As the crypto world continues to evolve, the lessons learned from Zora’s remarkable ascent will undoubtedly shape the future of blockchain innovation.
Source
This article is based on: Coinbase’s Base App Rebrand Sends a Little-Known Token Soaring 440% Amid SocialFi Boom
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
