Base Network Hits Over 9M Daily Transactions: A New Record

Base, Coinbase’s Layer 2 network running on Ethereum, reached an all-time high of 9.2 million daily transactions.

This milestone reflects how quickly Base has been adopted as an option for L2 scalability, making it a leader in the blockchain space. Data from BaseScan shows that Blockchain’s daily transactions have increased rapidly since its launch on August 9, 2023. The increase in the number of daily transactions shows that the network is able to handle more activity thanks to its low transaction fees, easy setup for developers, and seamlessness. Integration with Coinbase.

There are several factors that can lead to the success of blockchain. It has become a major platform for decentralized finance applications, non-fungible tokens, and games, attracting interest from both developers and users looking to take advantage of its scalability. Moreover, its connection with the Coinbase ecosystem allows millions of users to easily interact with dApps. This positions Base to keep up with the growing demand of the crypto industry.

Basic Daily Trading: A striking uptrend showing explosive growth in activity from June 2023 to November 2024

Phantom wallet adds more interest to Base:

Phantom Wallet announced that it has made a great contribution to its ecosystem by providing full integration with Base.

We’re launching today @Basis To everyone at Phantom 🔵

Now you can:

→ Swap tokens between Base and Solana
→ Access your favorite DeFi and NFT apps
→ Buy ETH and USDC at Base from within your wallet pic.twitter.com/woCT3K7qgY

— Ghost (@ghost) 25 November 2024

It was originally designed as a wallet for Solana. The Phantom ecosystem has expanded its features to include support for Ethereum and Polygon, and now includes Coinbase’s layer 2 blockchain.

With this new integration, which has passed the beta phase, Phantom users will now be able to purchase Ether (ETH) and USD Coin (USDC) on Base, as well as swap tokens between Base, Ethereum, Solana and Polygon networks.

According to Phantom co-founder and CEO Brandon Millman, “the future of digital asset management lies in cross-chain interoperability.” This advancement not only improves the user experience overall, but also strengthens Phantom’s role in the Base ecosystem by making navigation and transactions between other chains easier.

Base has achieved success well beyond its impressive trading volumes. According to DeFiLlama, it is the largest Layer 2 blockchain with a total value locked of approximately $3.4 billion as of November 25. This rise has placed Blockchain well ahead of competitors like Arbitrum, with $3 billion. In the overall blockchain space, Base ranks sixth behind major Layer 1 networks such as Ethereum, Solana, and Bitcoin.

Given a solid foundation in TVL and significant growth in the user base, the increasing importance of Layer 2 solutions in scalability and adoption is very evident, as they form the fundamental basis for solving Ethereum congestion issues and high gas fees, laying the foundation for smoother adoption across all platforms . DeFi and dApps.