- Record Number of Daily Transactions
- Over 100 Million Transactions in the Past Month
- Growth of Meme Coins on the Base Network
The daily number of transactions in the Ethereum Layer-2 scaling ecosystem reached an all-time high, with Coinbase's Base network significantly increasing its activity. This article explores the key aspects of this growth.
Record Number of Daily Transactions
Growthepie data shows that aggregated daily transactions across Layer-2 networks soared to 12.42 million on Aug. 12, with Base processing more than 3.6 million transactions. This was substantially more than Arbitrum One, which handled 1.39 million transactions on the same day.
Over 100 Million Transactions in the Past Month
According to L2Beat data, over the past 30 days, the Base network facilitated more than 111 million transactions, placing it second in this regard with Xai leading at close to 300 million transactions during the same period. Base also currently has the second highest Total Value Locked (TVL) within the Layer-2 space, with approximately $6.35 billion locked up in decentralized finance (DeFi) protocols on the network, with a 3% increase in the last 24 hours. Arbitrum One leads with over $15 billion following a 6% increase in its TVL.
Growth of Meme Coins on the Base Network
The market cap for Base meme coins stands at over $1.2 million. BRETT and TOSHI, the largest Base meme coins by market cap, printed respective gains of 3% and 4%. Smaller tokens such as Base Chad (CHAD) and MOEW (MOEW) were the top-performers, with their prices increasing by over 25% and more than 20% respectively.
The growth in activity within the Ethereum Layer-2 scaling ecosystem showcases significant progress, especially with Coinbase's Base network leading the way. The increasing total value locked and transaction count continue to attract the attention of investors and users alike.
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