In the first few days of April, the Base network, which is backed by Coinbase, has outpaced Arbitrum as the leading layer-2 solution on Ethereum. The network has attracted over 1.48 million new active addresses. This number is only slightly higher than Arbitrum One’s count of approximately 1.43 million during the same period, according to data from growthepie.
Apart from excelling in active addresses, Base has recently reached over $4 billion in total value secured, making it one of the leading layer-2 solutions together with Arbitrum One and OP Mainnet, according to L2BEAT’s report.
There’s been a significant increase in transactions taking place at the foundation, reaching a record high of 53.1 million in the past thirty days. The appeal of memecoins on this network is one factor fueling this growth.
Memecoins such as Brett (BRETT) and Degen (DEGEN) have gained a lot of popularity, with market values of $720 million and $523 million respectively, based on data from CoinGecko. Toshi (TOSHI) and Normie (NORMIE) are two frequently traded memecoins on the Base network.
Over the past month, Arbitrum One has had slightly more active addresses than Base. However, Base’s swift expansion highlights its increasing significance within the Ethereum network for scaling solutions.
Using a large and active community of users, substantial trading activity, and the integration of meme-based cryptocurrencies, Base remains a significant force in the world of decentralized finance and blockchain technology, strengthening its role as a major contender.
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2024-04-09 09:56