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Base Overtakes Arbitrum on June 1st, Shows Remarkable Growth in Q2 2024
Jun 25, 2024, 12:39 PM
Base, Coinbase's Ethereum Layer 2 solution, has shown remarkable growth and engagement in Q2 2024. Uniswap's monthly active traders on Base surged from 20% to 55% by the end of Q2. Over the past week, Base's total transactions consistently exceeded 3 million daily, highlighting strong community engagement. Weekly active addresses on Layer 2 platforms, including Base, reached an all-time high of 8.6 million, a 20% increase. Superform ranked in the top 5 for one-month TVL change on Base with a 171% growth. Despite a market slump, network activity on Base remains at all-time high levels, partly driven by the memecoin Brett. Base and Arbitrum together process more than 50% of Layer 2 and Ethereum's throughput. Uniswap's contracts on Base ranked 1-4 based on 90-day transaction count, and average transaction fees decreased despite increased onchain activity. On June 1st, Base overtook Arbitrum in daily transactions.
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