Base Chain Gains Momentum in Layer-2 Market
Base Chain,Coinbase’s layer-2 blockchain,is making waves since its 2023 launch. It’s growing fast and attracting more users.
According to Nansen, Base has become the top layer-2 network. Weekly transactions on Base soared by 27%, reaching 65.9 million. This is much higher than Ethereum’s 9.4 million. The network’s active addresses increased by 42% to 9.7 million, surpassing Ethereum’s 2.14 million. It’s now ahead of other layer-2 networks like Arbitrum, Polygon, and Optimism. The network’s success is clear in its transaction numbers. It’s a favorite among crypto users.
- Weekly transactions up by 27% to 65.9 million.
- Active addresses increased by 42% to 9.7 million.
- Base Chain is now the sixth biggest chain in DeFi with $4.7 billion locked.
Base Chain’s success is also seen in its DeFi protocols. They’ve processed over $363 billion as launch. Aerodrome leads with $183 billion in transactions.Uniswap follows with $130 billion. The network’s low fees and fast speeds attract users.It’s also popular in the meme coin space, with a market cap of $1.7 billion.
Despite its growth, Coinbase is unlikely to airdrop the $BASE token. The odds are just 2%, showing traders don’t expect it soon. If it happens, Base could see a valuation higher than Arbitrum, Optimism, and Polygon.
