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The Coin Rise 2024-12-20 19:29:28

Base Network Outpaces Major Blockchain in Users Growth

Base Network Outpaces Major Blockchain in Users Growth

Coinbase’s Layer 2 blockchain, Base, is growing faster than Ethereum. In October 2024, Base gained 13.7 million new users, making it the fastest-growing blockchain platform. According to reports, Base gained an impressive 15.1 million super users, outnumbering Ethereum (ETH) and Polygon. Base is Becoming a Strong Player in the Crypto World This growth shows that Base is becoming a strong player in the crypto world. Several factors have contributed to this success, such as lower fees, faster transaction speeds, and a user-friendly experience, making Base an appealing alternative. Meanwhile, Base’s growth is due to new users and strong engagement. It has partnered with well-known decentralized finance (DeFi) platforms and NFT marketplaces, building a solid system that encourages regular use. The blockchain network is also focused on improving features like scalability and user experience, which has helped boost its growth further. While Ethereum’s dominance in decentralized applications (dApps) and smart contracts remains unchallenged, Base’s ability to scale engagement quickly positions it as a powerful challenger. Base Network Outpaces Major Blockchains in Stablecoin Volume Base recently made headlines that it surpasses major blockchains in daily stablecoin volume . As reported by TheCoinRise, Base captured 30.06% of the total stablecoin transaction volume that day, beating out long-standing giants like Solana, Ethereum, and Tron. Solana trailed with a 25% share, while Ethereum and Tron followed with 20% and 16.7%, respectively. This milestone coincided with Base record-breaking 5.6 million daily transactions achievement , marking a 20% increase from the previous month. As stablecoin transactions have traditionally been dominated by Solana , which held a consistent 60% share until mid-June, Base’s emergence as a front-runner signals significant traction for the Ethereum-based layer-2 solution. Coinbase’s Base Surpasses $2B in TVL Recall that Base’s Total Value Locked (TVL) also surpassed $2 billion in September. This places the network one spot away from Arbitrum. Considering Base’s TVL at the beginning of the year, this achievement stunned many in the ecosystem. Experts attributed the increase in Base’s TVL to the Decentralized Exchange (DEX) Aerodrome. Base’s impressive growth trajectory has often resulted in network issues in the Coinbase ecosystem. This perhaps informed Coinbase’s decision to roll out plans to launch a web app . The app has been designed to serve as a central node for users, facilitating better portfolio management. The post Base Network Outpaces Major Blockchain in Users Growth appeared first on TheCoinrise.com .

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