Coinbase’s layer-2 network, known as Base, recently achieved a remarkable milestone by recording its highest number of daily transactions to date.
Data obtained from the blockchain explorer BaseScan revealed that on September 14th, the layer-2 blockchain processed a staggering 1.88 million transactions, surpassing its previous record of 1.41 million transactions set on August 21st, the month of its launch.
Notably, Base outperformed competing networks like Optimism and Arbitrum, which combined for 878,000 transactions on the same day.
However, despite this achievement, Base still lags behind more prominent blockchain platforms like Polygon and BNB Smart Chain (BSC). On the same date, Polygon recorded 2.1 million transactions, while BSC boasted an impressive 3.1 million transactions.
It’s important to note that while Base surpassed its previous transaction record, it did not see a comparable increase in daily active users compared to its August 21st milestone.
On that day, the platform had 136,000 daily active users, while on September 14th, the number was significantly lower at around 86,000, as reported by Dune Analytics.
READ MORE: Bitcoin Bucks Inflation Worries, Surges to New September Highs
Base was officially launched on August 9th, offering users a range of functionalities, including token bridging, token swapping, liquidity provision, NFT minting, and more, all within the layer-2 network.
Since its launch, Base has garnered considerable support from the cryptocurrency community.
On September 6th, over 700,000 NFTs were minted by more than 268,000 unique wallets on the platform.
In its first two weeks, Base facilitated the bridging of over $242 million worth of crypto assets to its blockchain, attracting 130,000 unique wallets daily.
In conclusion, Coinbase’s Base layer-2 network has set a new daily transaction record, demonstrating its growing popularity within the crypto space.
While it faces competition from other established blockchains, its rapid growth and adoption suggest a promising future for the platform in the evolving crypto landscape.
Other Stories:
DeFi Pioneer Rune Christensen Envisions Decentralized Stablecoins Dominating the Crypto Market
Crypto Markets Brace for Uncertainty as Regulatory Storm Looms
Ethereum’s Energy Efficiency Soars: The Aftermath of The Merge
