In the fast-paced world of cryptocurrency, staying ahead means understanding the shifts in ecosystems and market behaviors. A recent thread from economist Mary (@howdymerry) on X sheds light on current market dynamics and why Base is positioning itself as a mature player in the blockchain space. As someone who's worked at top firms like Galaxy and Brookings, her insights carry weight for anyone involved in meme tokens or onchain projects.

Mary starts by noting that liquid funds have been pushed out of the market. This explains her ongoing view that high fully diluted valuation (FDV) altcoins—those alternative cryptocurrencies with inflated market caps from the get-go—will find it hard to attract buyers. Instead, she's bullish on small-cap productive assets built directly on the blockchain, or "onchain." These are projects that generate real value through decentralized apps, often including meme tokens that capture community interest without massive initial hype.

She contrasts this with Solana, where "industrialized sniping operations" dominate. Sniping refers to bots and tools that quickly buy and sell tokens right after launch, leading to flip-and-dump behavior within seconds. On Solana, tokens often struggle to maintain upward momentum, especially those valued between $25 million and $100 million FDV—a "valley of death" where liquidity dries up and prices plummet.

High FDV altcoins are collapsing across the board, making ventures like Eclipse and Kadena seem questionable in comparison. Base, however, stands out with its "institutional lindyness"—a term borrowed from Nassim Taleb's concept of "Lindy effect," meaning things that have survived time are likely to endure. Base has built trust among big players, thanks to its ties with Coinbase and a focus on reliable infrastructure.

A potential Base token could draw buyers from outside the crypto bubble, solving the problem of finding marginal buyers at high valuations. Unlike speculative altcoins, Base appeals to traditional investors looking for stability in blockchain tech.

What really sets Base apart is its consumer base, which still "has the capacity to believe in something." In a market full of cynicism, Base users are engaged and optimistic, fostering innovation in areas like meme tokens and creator economies.

Speaking of creators, Mary gives a shoutout to Jesse Pollak, Base's lead builder, who's been actively supporting teams for over a year. Despite some noise around creator coins—tokens tied to influencers or content creators—his consistent efforts are paying off.

Looking ahead, Mary is optimistic about an "onchain season" in Q4 2025 and into Q1 2026. This could mean a surge in activity for small-cap projects, including meme tokens that thrive on community and viral appeal.

For meme token enthusiasts and blockchain practitioners, this signals a shift toward ecosystems like Base, where maturity meets opportunity. If you're building or investing, keep an eye on onchain developments—platforms like Base are proving that sustainable growth beats short-term hype.

This analysis aligns with broader trends in crypto, where ecosystems with strong fundamentals attract long-term capital. Stay tuned to Meme Insider for more updates on meme tokens and blockchain innovations.