Base rebounds to 10 million daily transactions, solidifying its role as a top Layer 2 performer
Quick Take
- Coinbase has invested heavily in developer infrastructure and tooling for Base, creating a more accessible environment for projects looking to build on Layer 2 technology.
- The following is an excerpt from The Block’s Data and Insights newsletter.
Base has demonstrated impressive resilience in maintaining its growth trajectory, with transaction activity rebounding to approximately 10 million daily transactions after a brief dip to around 7 million in recent weeks.
Daily active addresses have similarly recovered to approximately 1.5 million, indicating that the temporary decline in activity was more of a market-driven pullback rather than a fundamental loss of user interest in the Coinbase-backed Layer 2. This recovery pattern distinguishes Base from other Layer 2 solutions that have struggled to maintain consistent activity levels during periods of broader market uncertainty.
The network's appeal to builders and developers stems significantly from its direct association with Coinbase, which provides unique advantages beyond simple brand recognition. Coinbase has invested heavily in developer infrastructure and tooling for Base, creating a more accessible environment for projects looking to build on Layer 2 technology. The Base ecosystem fund actively supports projects building on the network, providing both financial backing and strategic guidance that many competing Layer 2s cannot match with their own resources.
Base's trading infrastructure has evolved into a formidable competitor to both centralized exchanges and Ethereum mainnet activity, processing $1.3 billion in DEX volume over the past 24 hours. Aerodrome and Uniswap combine to facilitate approximately $1 billion of this trading volume, demonstrating that the network has successfully attracted established DeFi protocols while fostering native innovation.
This trading volume represents a significant portion of both Coinbase's centralized exchange volume ($3 billion) and Ethereum mainnet DEX activity (also around $3 billion), highlighting Base's emergence as a legitimate alternative trading venue.
This is an excerpt from The Block's Data & Insights newsletter. Dig into the numbers making up the industry's most thought-provoking trends.
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