Coinbase's Base Achieves Major Success with 18% Market Share and 4.2M Daily Transactions

Sep 10, 2024, 05:58 PM

Base, the Ethereum layer-2 network operated by Coinbase, has achieved significant success in the competitive L2 landscape. The network saw over 2 million unique wallets participate in its 'Onchain Summer' promotion, generating over $5 million in mint revenue for creators. Base has also captured an 18% market share on L2Beat, ranking it as the second most popular L2 network. The platform has attracted $132 million in stablecoins over the past month, leading the L2 ecosystem in liquidity inflows. Additionally, Base is recording an impressive 4.2 million daily transactions, surpassing Ethereum and Arbitrum. Its success is attributed to low fees, solid scalability, and frictionless dApp experiences, which are drawing in developers and users. Base uses Optimism’s OP Stack.