With the support of Coinbase, the Ethereum Layer-2 network named Base is poised to surpass its previous trading volume record of $9.4 billion on Uniswap, reaching a new all-time high (ATH).
Base volume on Uniswap Protocol 🔵
January: $329M
February: $675M
March: $9.4BHalfway through April: $7.8B 👀
— Uniswap Labs 🦄 (@Uniswap) April 14, 2024
The trading volume at Base has experienced remarkable growth, exceeding past records. In January, this amounted to $329 million, which then jumped to $675 million in February. However, the real surprise came in March with a staggering increase to $9.4 billion, suggesting a significant uptick in user engagement.
In March, Max Branzburg, Coinbase’s VP of Consumer Products, revealed that USDC balances held by Coinbase would be stored on the Base Network. This change intends to improve funding management, reduce transaction costs, and expedite settlements.
The use of Base’s advanced features, which are built on Layer-2 protocols, has drawn in more users. This is evident in the platform’s mid-April trading volume, which reached an impressive $7.8 billion. As we approach the end of April, it looks set to surpass the record set in March.
In the world of Ethereum’s Layer-2 solutions, Base has gained notable recognition with a staggering 30-day transaction volume of 45.21 million, outpacing Arbitrum One and Ethereum itself. Furthermore, Base’s Total Value Locked (TVL) has reached an impressive $4 billion mark, demonstrating its strength and adaptability amidst Ethereum network difficulties.
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2024-04-15 07:00