According to data from blockchain browser BaseScan, the daily trading volume of Coinbase’s second-tier network Base has reached a new high, breaking the historical record when it went online in August.
On September 14, transaction volume on the second-layer blockchain reached 1.88 million, surpassing the previous record of 1.41 million transactions set on August 21, the month the network launched. The Layer-2 network surpassed other rival chains such as Optimism and Arbitrum, which recorded a total of 878,000 transactions for the day.
Despite reaching this milestone, the second-layer network still lags behind more well-known blockchains such as Polygon and BNB Smart Chain (BSC). Polygon had 2.1 million trades that day, while BSC had 3.1 million trades that day.
Unlike the previous transaction record on August 21, when the number of daily active users of the blockchain also reached 136,000 and the number of transactions was also high, this time the number of users on the second-tier network was not that large. According to data recorded by Dune Analytics, Base had only about 86,000 daily active users on September 14.
Officially launched on August 9, Base allows users to bridge tokens, exchange tokens and provide liquidity, mint non-fungible tokens (NFTs), and perform many other activities that can be performed on a layer 2 network.
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Since its launch, the network has been warmly welcomed by the crypto community. As of September 6, more than 700,000 NFTs have been minted across more than 268,000 unique wallets on the second-tier network. In the first two weeks, more than $242 million worth of crypto assets were bridged to the blockchain, with 130,000 unique wallets using it every day.
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