Layer-2 Base Network Leads Ethereum Scaling Ecosystem To Daily Transaction All-Time High
The number of daily transactions across the Ethereum layer-2 scaling ecosystem reached an all-time high, with Coinbase’s Base network accounting for a chunk of the activity.
Growthepie data shows that aggregated daily transactions across layer-2 networks soared to 12.42 million on Aug. 12, with Base processing more than 3.6 million transactions. This was substantially more than Arbitrum One, which handled 1.39 million transactions on the same day.
Over 100 Million Transactions In The Past Month
Base was one of the most active blockchains in the past month as well. Throughout the past 30 days, the network facilitated more than 111 million transactions, according to L2Beat data . This placed it second in this regard, with Xai taking the leading with close to 300 million transactions during the same period.
Base also currently has the second highest Total Value Locked (TVL) within the layer-2 space, with approximately $6.35 billion locked up in decentralized finance (DeFi) protocols on the network. Its TVL jumped 3% in the last 24 hours as well. In the lead is Arbitrum One with over $15 billion following a 6% increase in its TVL.
BRETT And TOSHI Print Gains While Majority Of Base Meme Coins Slip
The market cap for Base meme coins stands at over $1.2 million. This is after the sector saw a minor drop in valuation over the past 24 hours.
Brett (BRETT) and Toshi (TOSHI), the largest Base meme coins by market cap, printed respective gains of 3% and 4% throughout the past trading session. Smaller tokens such as Base Chad (CHAD) and MOEW (MOEW) were the top-performers after their prices increased over 25% and more than 20%.
With Base flourishing and investor interest in meme coins deployed on the layer-2 network still present, Base Dawgz (DAWGZ) stands to benefit. The presale meme coin has already raised over $2.9 million, and aims to achieve a multi-chain presence that enables investors to seamlessly transact on some of the most liquid and active networks in the Web3 space.
Related Articles:
- Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!
- Solana Meme Coin Launchpad Pump.fun Reaches Record Monthly Agreement Income
- Filecoin Price Prediction for Today, August 13 – FIL Technical Analysis
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Daily: ECB President Lagarde rejects bitcoin for Eurozone reserves while the Czech central bank considers it and more
European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.
'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT
The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”
Kiyosaki Dumps Gold and Silver, Projects Bitcoin at $250K by 2025
Bulls Eye Reversal as Solana Tests Support After 25% Drop