The Coinbase Layer-2 Network Base Gains Attention Thanks to Friend.Tech
The recently launched Coinbase layer-2 network Base is seeing a surge in transactions and activity, largely driven by the controversial crypto social media dApp Friend.Tech.
Main Breakdowns:
- Base’s network activity briefly surpassed leading layer-2 networks, including Ethereum.
- Total activity on all layer-2 networks is five times that of Ethereum.
- Base’s activity has surpassed market leaders Arbitrum and Optimism.
- Friend.Tech is driving the majority of activity on Base.
- Base has generated $5.3 million in network fees in just seven days.
Despite the current frenzy, critics question the success rate of Base’s transactions, with concerns about bots and data leaks. Base’s market share in the layer-2 ecosystem is still relatively small compared to Arbitrum and Optimism. It is expected that Base’s activity will decline once the hype around Friend.Tech subsides.
Hot Take: While Base is experiencing a surge thanks to Friend.Tech, its success may be short-lived. The true test will be its ability to sustain activity and attract users beyond the current crypto-driven trend.
By
By
By
By
By