Base, the Ethereum Layer 2 solution developed by Coinbase, has demonstrated impressive growth metrics since launching its mainnet in August 2023.
Base's Achievements in 2024
According to a report by Delphi Digital, daily transactions on Base have increased by 1,600%, from 372,000 in January to over 6.63 million by October. Base has emerged as a prominent performer in total value locked (TVL), active user engagement, and transaction volumes, outpacing the broader on-chain economy.
Growth in TVL and User Engagement
Base's total value locked (TVL) rose from $439 million in January 2024 to $2.51 billion by October, marking a 470% increase. Weekly active addresses increased from 300,000 in January to 6.61 million by October, achieving a 2,100% growth.
Increase in Transaction Volume and Stablecoins
From January to October, Base's daily transaction volume catapulted from 2.1 million to 42.34 million, increasing its market share to 9%. Base has shown a marked acceleration in stablecoin adoption, with weekly stablecoin volume reaching $55 billion by November.
Base's continued expansion and growth underscore its importance in the Ethereum Layer 2 space, showcasing its ability to compete with leading networks within the Superchain framework.
