The Base network, a layer-2 solution by Coinbase, is experiencing a remarkable rise in stablecoin activity, highlighting an increasing user engagement on the platform.
New Record of Active Users
In June 2025, the Base network recorded over 3.3 million users actively interacting with stablecoins, marking a significant milestone for the network. Interestingly, the overall stablecoin supply remained nearly unchanged throughout Q2.
Reasons for Growth
According to CryptoRank.io, this surge in activity is linked to several factors, including strategic partnerships with major Web2 players like PayPal and Shopify, which have begun integrating stablecoin support, thereby bridging traditional finance with blockchain technology.
Impact on DeFi and Future Outlook
In the decentralized finance (DeFi) sector, activity continues to rise. Despite a stable supply of stablecoins, the network demonstrates high efficiency in capital utilization, evidenced by a spike in stablecoin transfer sizes to $2.6 million in May 2025, indicating increased participation from institutional investors. This underscores Base's growing role as a liquidity hub within DeFi.
While the rising activity alongside a stable supply raises questions about scalability and liquidity management, ongoing developments in regulatory clarity and Web2 integrations could further establish Base’s position within the stablecoin landscape.
