Coinbase’s Base Protocol Surpasses $1 Billion in DEX Volume 🚀
If you’re into decentralized finance activities in the crypto world, you’ll be pleased to know that Coinbase’s Layer 2 protocol, Base, has hit a major milestone. With a surge in DeFi activities, the protocol has exceeded $1 billion in decentralized exchanges (DEX) volume. 🌟
Base DEX Volume Breaks $1 Billion
Recent data from Dune Analytics reveals that Base’s DEX volume reached $1.2 billion on March 30, showcasing a significant 25% increase from the previous day. Uniswap dominates the scene with over 64% of the total volume, with Aerodrome Finance following at 9.7%. Other notable players in the network include SharkSwap, BaseSwap, SushiSwap, and PancakeSwap. 📈
- Data from Dune Analytics shows a surge in Base DEX volume to $1.2 billion on March 30
- This marks a 25% increase from the previous day’s total volume of $959.63 million
- Uniswap controls over 64% of the total volume on Base’s DEX
- Aerodrome Finance trails behind with 9.7% of the volume
The platform has also seen a spike in daily active users, surpassing 200,000 users, with almost half of them coming from Uniswap. This surge in activity is believed to be linked to the meme coin frenzy, causing an increase in network fees despite the recent Dencun upgrade. 🚀
The Rise of Base and Growing Value Locked 📈
Over the past month, the total value of assets locked on Base has soared past $3 billion, marking an impressive 200% surge. Token Terminal highlighted the significant growth of stablecoin balances on the protocol, nearing $1 billion in USDC value. 💸
Core contributor Jesse Pollak from Base acknowledged the increasing demand for the project and its milestones. He emphasized the platform’s commitment to openness and permissionless operations, stating that decentralization plays a vital role in fostering an open, global, on-chain economy that promotes innovation, creativity, and freedom. 🔒
Closing Thoughts 🚀
As the Base protocol continues to expand and achieve new milestones in the DeFi space, it demonstrates the growing interest and adoption of decentralized exchanges. With a commitment to decentralization and innovation, Base is paving the way for a more open and permissionless crypto ecosystem. Stay tuned for more exciting developments in the world of decentralized finance! 🌐
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