The post Base Network Surpasses Arbitrum as Top Ethereum Layer 2 Solution in Transaction Count appeared on BitcoinEthereumNews.com.

The Base Network is currently outperforming other Ethereum Layer 2 solutions with a significant lead in transaction counts. This surge can be attributed to a rise in memecoin activities, driving more transactions to the network. Statistics show that Base Network’s transaction count growth started gaining momentum back in April of this year. Discover how Base Network is outpacing competitors like Arbitrum, driven by a memecoin boom and robust transaction growth. Base Network Overtakes Arbitrum In recent developments, the Base Network has established itself as the top Ethereum Layer 2 solution by transaction count, outshining its competitors such as Arbitrum. On-chain analytics highlight that over the last 30 days, Base Network saw a surge of over 60% in transactions, while Arbitrum experienced a decline of 22.3%. Factors Behind Base’s Rapid Growth The primary driver behind Base Network’s growth is the ongoing memecoin phenomenon. Popular memecoins on the network have gained significant value, attracting increased user activity. This, in turn, has drawn interest from notable hedge funds and major trading platforms. The memecoin market, with a capitalization of approximately $54.7 billion, has played a catalytic role in this upward trend. Competition and Market Dynamics Base Network currently processes around 3.5 million daily transactions, a remarkable increase compared to Arbitrum’s 2 million daily transactions. The rise of Solana-based Dogwifhat (WIF) and its adoption by major platforms like Robinhood and Binance has further fueled this trend. Trading at $2.12, WIF experienced a 10.15% rise in the last 24 hours, highlighting its growing influence. Shiba Inu’s Unprecedented Burn Rate TRUSTED BY COINOTAG,Did you missed $MEME, $PEPE or Bitcoin? No worries! Click here to sign up chosen altcoin exchange! Meanwhile, Shiba Inu (SHIB) has been on a positive trajectory. The token saw a 2% price increase recently, contributing to a broader cryptocurrency market recovery. Notably, SHIB’s…

---

Filed under: News - @ June 30, 2024 4:28 am