- Daily Active Address Record Amid a Surge in Trading Activity
- Base Meme Coins Drop
- Success of Base Dawgz (DAWGZ) Project
Coinbase’s Base network surpassed 1 million daily active addresses, setting a new record on August 24. This growth is linked to the rise in new “basenames” created on the blockchain.
Daily Active Address Record Amid a Surge in Trading Activity
The network set a new record of 1.05 million active addresses on August 24, according to Dune Analytics data. This marks a 60% increase in daily active addresses since the start of the month. After reaching this peak, the number of active addresses fell to 401,936. The surge followed the August 21 launch of the “basename” service on the Layer-2 network, with more than 200,000 new Base.eth usernames created in the first week.
Base Meme Coins Drop
Many meme coins on the Layer-2 blockchain are not following the same positive trend. Over the past 24 hours, the market capitalization for this light-hearted sector dropped over 4%. BRETT, Degen, Toshi, Mister Miggles, and Basenji all suffered losses. BRETT, the leading meme coin, dropped 4% but is still up more than 8% for the week.
Success of Base Dawgz (DAWGZ) Project
One standout meme coin is Base Dawgz (DAWGZ). Currently in its presale phase, the project has raised over $3 million. The investor excitement is likely to continue due to its attractive staking program offering a 776% APY. The ICO is set to end within the next 48 hours.
The Base Layer-2 network continues to attract attention with its high daily activity and trading volumes, although some meme coins face challenges. Meanwhile, projects like Base Dawgz show significant success in attracting investments.
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