Coinbase's Layer-2 Network Base Sets New Daily Transaction Record, Outperforming Rival Chains
Summary:
Coinbase's layer-2 network, Base, sets a new record with 1.88 million daily transactions, surpassing its previous peak since its August launch. It outperforms rival chains Optimism and Arbitrum. However, it falls behind Polygon and BNB Smart Chain in terms of transaction volume and daily active users. Base offers various activities such as token bridging, swapping, liquidity provision, and NFT minting. It has received a warm reception from the crypto community, with millions of NFTs minted and significant crypto assets bridged to the network.
Coinbase's layer-2 network, Base, achieved a new milestone in terms of daily transactions, surpassing its previous record since its launch in August, as per data from BaseScan, a blockchain explorer. On September 14, the layer-2 blockchain recorded 1.88 million transactions, surpassing its former peak of 1.41 million transactions on August 21, the month it was introduced. In comparison, rival chains like Optimism and Arbitrum had a combined total of 878,000 transactions on the same day. However, despite this achievement, Base still lags behind prominent blockchains like Polygon and BNB Smart Chain (BSC). On that day, Polygon recorded 2.1 million transactions, while BSC had 3.1 million transactions. Unlike the previous record on August 21, when Base also reached 136,000 daily active users alongside its high number of transactions, the layer-2 network had fewer users this time. On September 14, Base only had around 86,000 daily active users, according to data from Dune Analytics. Base was officially launched on August 9, offering users various activities such as token bridging, token swapping, liquidity provision, and NFT minting on layer-2 networks. Since its launch, the network has received a positive response from the crypto community. In early September, over 700,000 NFTs were minted by more than 268,000 unique wallets on the layer-2 network. Furthermore, within the first two weeks, over $242 million worth of crypto assets were bridged to the blockchain, with 130,000 unique wallets using it daily.
Published At
9/17/2023 8:44:19 AM
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