News

Base Surges Ahead In Layer 2 Ecosystem With Record-Breaking Activity

On July 23, 2024, Base experienced an unprecedented surge in activity, cementing its position as a leader in the Layer 2 (L2) ecosystem.

The network surpassed a remarkable milestone of over 1 million active addresses, significantly outpacing its competitors Arbitrum and Optimism, which recorded 557,273 and 358,791 active addresses respectively.

Base also led in transaction volume among L2 solutions, processing $1.43 billion worth of transactions. This is slightly ahead of Arbitrum, which handled $1.34 billion, and far beyond Optimism’s $128 million. The high transaction volume on Base highlights its growing dominance and appeal to users and developers alike.

In terms of the number of transactions, Base again set the pace with nearly 4 million transactions on July 23. This figure dwarfs Arbitrum’s 2.1 million transactions and Optimism’s 520,168 transactions, underscoring the robust activity and user engagement on the Base network.

Base Attracted Massive Inflows From Bug Holders, Recording Net Inflow Of 10,062 ETH

Moreover, Base attracted substantial inflows from large holders. On July 23, it saw a net inflow of 10,062.93 ETH, showcasing the confidence major investors have in the platform. In comparison, Arbitrum recorded an inflow of 6,949 ETH, while Optimism experienced a net outflow of 232.95 ETH, indicating a shift in large holder sentiment towards Base.

Related Post

These metrics collectively underscore Base’s accelerating momentum and its emerging leadership position within the L2 ecosystem. The significant user adoption, transaction volume, and large holder confidence reflect Base’s potential to drive innovation and efficiency in the blockchain space.

As Base continues to expand its footprint, it is poised to play a crucial role in the future of decentralized applications and blockchain scalability.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter  @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: andranik2018 123RF  // Image Effects by  Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

Ethereum Ecosystem Primed For A November Rally – ETH Coins Chainlink (LINK), Toncoin (TON), And Cutoshi (CUTO) The Ones To Watch

With a Total Value Locked (TVL) of $50.72B, Ethereum is the world's largest blockchain, with…

5 hours ago

Analysts Predict a Rollblock 5000% Surge Dwarfing Pepe Coin and Popcat Recent Fame

The meme coin market has recently been surging once again; tokens such as Pepe and…

15 hours ago

FLOKI Dominates Meme Market as Rollblock ICO Skyrockets. Is Polkadot Losing Its Edge?

The FLOKI price has recorded over 300% yearly ROI, dominating crypto gains in the meme…

15 hours ago

Which Crypto Could Turn $1K Into $100K: Algorand (ALGO), Aptos (APT), or Rollblock (RBLK)?

Crypto investors are constantly searching for promising opportunities to diversify their portfolios and Algorand, Aptos,…

15 hours ago

Which Crypto Could Turn $1K Into $100K: Algorand (ALGO), Aptos (APT), or Rollblock (RBLK)?

Crypto investors are constantly searching for promising opportunities to diversify their portfolios and Algorand, Aptos,…

15 hours ago

Plus Wallet vs. OKX: A Look at Security, Privacy, and Global Accessibility

A Complete Comparative Analysis of Plus Wallet & OKX: Security, Privacy, Accessibility & Rewards Choosing…

20 hours ago