WETH/Basin Pool Dries Up on Base After $54k Peak
A liquidity pool pairing Wrapped Ether with Basin tokens on the Base network experienced a severe reduction in available funds. The event marks the transition from an active market depth to a dormant state, leaving only two dollars remaining against a recent high of nearly $54,000.
A trading venue on the Base blockchain has effectively ceased normal operations after its liquidity reserves were drained. The specific pool designed to facilitate swaps between WETH and Basin tokens once held significant capital before dropping precipitously.
The Event Details
On-chain records indicate that a deployer wallet associated with contract address 0xe1eda3e9d16816f9b0d2e28cf2b3e19aba2a5eed initiated the change. The pool, which tracked a health score of 16 out of 100 following the incident, saw its total value drop from $53,997 to just $2.
Understanding the Drop
The metric showing a drawdown percentage above 100% indicates that the current liquidity is mathematically negligible compared to the previous high. In practical terms, this means there are no longer enough funds in the pool to support meaningful trades for either asset class without causing extreme slippage.
Market Implications
This event signals a shift from an active market to one that is functionally dead for standard trading purposes. Users attempting to enter or exit positions will find insufficient depth, as the remaining capital cannot absorb typical order sizes. The first detection of this state occurred on June 17, 2026.
- Pool contract: 0xe1eda3e9d16816f9b0d2e28cf2b3e19aba2a5eed
- Deployer wallet: 0x4a20c4b3f35855a03ccedfe1af3606dad85d5362
- Status transition: Active to dormant