Coinbase's Base platform demonstrates leadership among Layer 2 solutions despite recent activity declines.
Decline in Transaction Activity
Transaction numbers on the Base network have decreased by 38% since January, yet it remains the most active Ethereum Layer 2 network with an impressive average of 7.5 million transactions daily.
Role of Coinbase's User Base
Coinbase's extensive user base, with over 100 million registered users, significantly contributes to Base's success, attracting institutional interest in the cryptocurrency market. Base currently has approximately 3.5 million unique wallet addresses, indicating user engagement.
DeFi Impact on Base Ecosystem
The Base ecosystem is primarily supported by decentralized exchanges and lending platforms like Uniswap and Aerodrome. Growth in the DeFi sector mirrors the early stages of development seen in other Layer 2 networks.
Despite a decline in activity, Base remains a leader among Ethereum Layer 2 solutions with the backing of Coinbase.
