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Coinbase's Base L2 Achieves 18% Market Share, $7B USDC Transfers, 4.2M Daily Transactions

Sep 10, 2024, 07:26 PM

Coinbase's Base layer-2 solution has achieved significant success, securing the No. 2 spot on L2Beat with an 18% market share. Base, an Ethereum layer-2, leverages Ethereum for settlement, data availability, state determination, and uses ETH as its currency. It has seen remarkable growth in USDC daily transfer volumes, reaching $7 billion from $60 million a year ago. Additionally, Base is dominating the layer-2 landscape with 4.2 million daily transactions, surpassing Ethereum and Arbitrum. Its low fees, solid scalability, and smooth dApp experiences are attracting developers and users.