Coinbase’s Base Transaction Volume Surpasses $1.6B: ‘Base Spring Ahead’?

Discover the dominance of Coinbase’s Layer 2 network – Base – in the exciting world of L2 solutions. March has been a game-changing month for Base, with a surge in popularity fueled by meme coin craze and exciting airdrops.

Boasting around 890,000 daily active addresses, Base continues to lead the pack, showcasing strong user engagement, as reported by IntoTheBlock.

Unleashing the ‘Base Spring’

Recent data reveals that Base’s transaction volume has skyrocketed to over $1.6 billion, almost tripling Optimism’s numbers. The network has processed a whopping 2.63 million transactions on April 2nd alone, signaling a bullish trend in processing power.

With these impressive stats, is it time to declare “Base Spring”?

“Base is dominating the L2 landscape! With over 890k daily active addresses and $1.6B in transaction volume, almost 3x more than Optimism. Are we witnessing the rise of the Base Spring?”

Notably, Base reached a significant milestone by surpassing $3 billion in Total Value Locked (TVL) on March 28th, which has now surged to $3.82 billion by April 4th, marking a remarkable 27% increase in just one week.

Driving this renewed activity is the Dencun upgrade activated in mid-March, significantly reducing transaction fees and making Layer 2 solutions more cost-effective for Ethereum transactions.

Explosive Growth in Meme Coin Mania on Base

As meme coins gain popularity among investors, Base has become a hotspot for trading these speculative tokens. Coins like ANIME and DEGEN, with unique focuses and references, are thriving on Base, drawing in traders seeking meme coin opportunities.

Interestingly, trading bots optimizing meme coin trading have been identified as the top contributors to Base transaction fees, showcasing the widespread interest and activity in this sector.