The Base layer-2 network has exceeded 1 million daily active addresses amid a surge in new registrations on the blockchain.
Growth in Active Addresses
Base reached a record 1.05 million daily active addresses on Aug. 24, slightly decreasing to 1.03 million as of publication. This constitutes a 60% growth since the start of August. Base now has more daily active addresses than several other protocols combined. Comparatively, Arbitrum has 394,000 daily active addresses, Linea has 198,000, and Mantle has 69,000, according to data from GrowThePie.
Launch of Basenames Service
The record number of active addresses followed the launch of the Basenames service on Aug. 21. Base creator Jesse Pollak noted that over 200,000 new Base.eth usernames were minted in the first week. Powered by the Ethereum Name Service, Basenames allow users to purchase names tied to their Base wallet addresses, facilitating communication within the network.
Increase in Base Network Trading Volume
Along with the rise in registered names, financial activity on the Base network has also increased. According to DefiLlama data, the total trading volume across the Base network has accelerated over the last five months. Base now accounts for 9.25% of the total DEX volume on Ethereum, up from 2.81% in March. The 'Onchain Summer' campaign, launched in 2023, drove the network to a record 4 million weekly active addresses on Aug. 20.
Base network demonstrates significant growth in both user numbers and financial activity, drawing attention through new services and events.
Comments