Base, the Ethereum layer-2 protocol developed by crypto exchange Coinbase, has recently witnessed a surge in its activities, resulting in a significant increase in its daily active addresses. According to data from the on-chain analytics platform IntoTheBlock, the increase in Base’s daily active addresses can be linked to the launch of Coinbase Wrapped Bitcoin (cbBTC)...Read More
The largest US-based crypto trading platform announced that its Wrapped Bitcoin product (cbBTC) has gone live on two blockchains – Base and Ethereum. This comes months after the company integrated the Lightning Network for BTC transfers. The announcement by the exchange informed that the Wrapped Bitcoin (cbBTC) will be “backed 1:1 by Bitcoin (BTC) held...Read More
The Dencun upgrade in March 2024 was a significant milestone for Ethereum, but it also brought about unforeseen challenges, particularly for Layer 2 networks. Christine Kim, a researcher at Galaxy, highlighted that this upgrade inadvertently led to an increase in transaction failures across these networks. Ethereum’s Layer 2 Networks Face Challenges Kim’s August 21 analysis,...Read More
There has been a significant shift in the Layer 2 network landscape lately, with Coinbase-incubated Ethereum Layer 2 network Base rapidly gaining ground. According to the latest findings by IntoTheBlock, Base now boasts nearly 40% more daily active addresses compared to the combined total of rival Layer 2 networks – Arbitrum and Optimism. Base’s Increased...Read More
Ethereum’s Layer 2s are bustling with activity. The latest data suggest that the ecosystem has reached a new record for daily transaction volume. In fact, these networks were also found to hold now more stablecoins than Solana and Binance Chain combined. Ethereum Layer 2 Ecosystem Growth According to the stats compiled by Growthepie, the daily...Read More
Coinbase-incubated Layer 2 network – Base – is seeing a significant surge in daily activity thereby suggesting growing interest and adoption amidst an improved sentiment in the broader market. The Base mainnet also saw a recovery in its TVL after nearly two weeks of slump. Base Layer 2 Growth Over the past week, Base has...Read More
Coinbase Ethereum layer-2 network Base has clinched a new record in terms of the number of daily active users on decentralized exchanges (DEX), reaching 270,000 on June 17th. Compared to the previous day, the figure jumped by approximately 9%. Uniswap Dominates Base With 85% User Share According to data compiled by Dune Analytics, with the...Read More
The price front remains quiet, but Ethereum scaling solutions appear to be thriving. The latest data suggests a surge driven by not just Layer 2 networks but lesser-known Layer 3 entities as well. According to L2beat, these scaling networks built on top of Ethereum have collectively reached over 246 TPS on June 16, representing a...Read More
Friend.tech co-founder, pseudonymously known as Racer, has hinted at leaving Base, an Ethereum Layer-2 network launched by Coinbase in 2023 that supports the platform. Following the news, Friend.tech’s token fell sharply and is now trading at $1.02, with a 31.4% drop over the past day. Racer Hints at Departure From Base Racer posted on X...Read More
Since the beginning of April, more than a million new tokens have been created, with over 370,000 appearing on Ethereum, owing to activity on Coinbase’s Layer 2 network, Base. Solana leads with the creation of over 640,000 new tokens, primarily meme coins. Base Sees Increased User Activity According to the data shared by Coinbase director...Read More
Coinbase’s Layer 2 network – Base – has witnessed a resurgence of user activity. Franklin Templeton’s latest analysis revealed that Base has received significant traction from SocialFi applications such as Friend.Tech. Friend.Tech’s model, which financializes social interactions, has drawn attention, particularly with the launch of its version 2 platform and the airdrop of its FRIEND...Read More
Layer 2 networks have witnessed massive activity this year, even as their native tokens slumped amidst intense volatility across the broader market. These solutions have witnessed relatively steady activity since the beginning of the year. However, the latest analysis by IntoTheBlock revealed that Base continues to be the primary attraction for new capital. Investors Flock...Read More
The highly anticipated Dencun fork on March 13th has significantly boosted the adoption of Layer 2 solutions on Ethereum. This was evidenced by the surge in increased activity post-upgrade. Intotheblock’s latest analysis revealed a similar trend as it noted a surge in the number of transactions on Ethereum’s layer 2 solutions after the Dencun upgrade....Read More
Coinbase’s Layer 2 network – Base – has been dominating the L2 landscape. March has been particularly lucrative for the scaling solution gaining significant traction as a result of increased meme coin frenzy as well as airdrops in recent weeks. With approximately 890,000 daily active addresses, Base has yet again taken the lead, indicating a significant...Read More
As the crypto industry continues to expand, Coinbase, one of the industry’s most prominent exchanges, has been making steady progress with its Ethereum Layer 2 solution, Base. Launched in February as a platform that simplifies app development and integration with the Coinbase product suite, Base has been operating on testnet and is now preparing for...Read More
