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Base by Coinbase Achieves 4th Position in Daily Transactions Per Second Among Layer 2 Solutions: Data
The initial reception to Coinbase’s layer 2 blockchain – Base – has been positive thus far. It has achieved significant participation in both DeFi activities and cross-chain bridge transactions. The daily active users on Base exceeded 100,000 for the first time. Notably, this milestone was reached just a day following the highly anticipated launch of the blockchain’s mainnet.
Base was already operational for developers to test but officially launched for the public with over 100 applications and service providers on August 9th.
Base’s Activity Surge
The Base blockchain went live on mainnet this week, marking what was described as the start of a new phase for public companies managing their own distributed networks. The favorable response was reflected in the total value bridged to Base, which exceeded $150 million on the day of the official launch. This figure currently hovers around $173 million.
Data gathered by Dune Analytics also indicated over 136,000 daily active users on August 10th. At the current rate, this number appears to be approaching a new high today.
Meanwhile, the crypto data platform CryptoRank positioned Base in 4th place in daily TPS among layer-2 solutions, although it remains significantly behind established competitors such as zkSync Era, Arbitrum, and Optimism.
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Initially introduced in February, Coinbase presented Base as a “bridge” for new crypto users entering the crypto economy. However, unlike its Ethereum scaling counterparts such as Optimism, Arbitrum, or Polygon, the San Francisco-based crypto exchange has confirmed that there are no immediate plans to launch a corresponding token for Base.
TVL Growth
Part of Base’s achievement can be linked to its soft launch, transitioning from a developer-only release in July to mainnet a month later. Before the public launch, Base experienced considerable usage through the BALD memecoin.
However, a new social network initiative called friend.tech is the primary driver behind the increased activity. Since the introduction of friend.tech, data indicates that there have been over 7,000 users, and more than 81,000 transactions have been executed with a transaction volume of 2,778 ETH on the layer-2 blockchain.
Consequently, the total value of assets locked (TVL) on Base surged past $161 million during the same timeframe, reflecting an almost 81% increase over the past week alone.
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