Blockchain transaction data from Coinbase and Arbitrum

Coinbase's Base Chain Surpasses Arbitrum with $2M Incentives, 3.5M Daily Transactions, Set to Attract 6M Users

Jun 28, 2024, 05:56 PM

Base, a blockchain incubated by Coinbase, is set to attract over six million monthly active addresses due to the Onchain Summer initiative, which offers $2 million in incentives for new users. Base has become the leading transport layer for Circle's USDC, with 30.2% of USDC's 1.9 million monthly active users utilizing the platform. The Coinbase Chain has also surpassed Arbitrum as the most used Ethereum Layer 2 solution, with 3.5 million daily transactions, a 60% increase in the last 30 days. This move by Coinbase aims to significantly increase its user base and the on-chain economy, with benefits such as atomic execution, higher cart/checkout conversion rates, and instant settlement.