The post Base reached new transaction record with minimal rent to Ethereum appeared on BitcoinEthereumNews.com.

Base, the tokenless blockchain by Coinbase, reached a new record for reported transactions. Despite lagging behind Solana, Base is carrying more than 19% of token launches, adding to overall activity.  Base is scaling, setting another record on overall transactions. The latest record is at above 7.3M daily transactions, compared to 1.19M for Ethereum, but still lagging behind Solana, with upward of 270M transactions on L1.  Base increased its transactions in the past year, while paying minimal rent to Ethereum. | Source: Growthepie The success of Base is still relevant, as it remains one of the most scalable and liquid L2 with wide adoption and marketing. Base is also highly liquid, carrying more than $3.5M in stablecoins and second only to Arbitrum with $4.4B.  Base is also leading in the metric of throughput, measuring the complexity of transactions and tasks completed. One of the drivers for growth is the Aerodrome DEX, as well as other DeFi protocols.  In the past few months, Base saw stronger inflows of bridged ETH going into DeFi protocols. On busy days, up to $38M in ETH was bridged on busy days. As a result, Base now carries $2.89B in value locked, of which $1.39B is on Aerodrome, supporting high-velocity pairs. Aerodrome is also the main venue for inflows from Ethereum, matching the $1.39B in value locked.  Not all traffic on Base is high-value, as the chain aims for mass adoption. The chain also carries new token launches and meme sharing, as well as a form of task-based leaderboard through the Rewards.fun app.  NFT and social activity make up just around 7% of Base traffic. The chain’s main profile is still DeFi, centered around Aerodrome as a value and liquidity hub. However, the informal meme activity and low-cost NFT are part of the Base chain popularization efforts.…

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Filed under: News - @ November 8, 2024 10:23 pm