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.
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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.
