The Favorable Response to Coinbase’s Layer 2 Blockchain, Base
The launch of Coinbase’s layer 2 blockchain, Base, has received positive feedback, particularly in the DeFi and cross-chain bridge transactions sectors. The blockchain’s daily active users surpassed 100,000 for the first time, just one day after its mainnet launch. Base was already available for testing by developers and officially launched for the public on August 9th with over 100 apps and service providers.
Main Breakdowns:
- Total value bridged to Base exceeded $150 million on the day of the official launch.
- Over 136,000 daily active users were recorded on August 10th, with the number expected to increase further.
- CryptoRank ranked Base as the 4th layer-2 solution in daily TPS, despite being behind established players such as zkSync Era, Arbitrum, and Optimism.
- Base experienced a significant increase in activity due to the launch of friend.tech, a new social network project. Over 7,000 users and 81,000 transactions have been completed on Base, with a transaction volume of 2,778 ETH.
- The total value of assets locked on Base reached over $161 million, representing an 81% increase in just one week.
Base’s successful soft launch and the integration of friend.tech have contributed to its growing popularity. Despite not having immediate plans for an accompanying token, Base has shown promising potential in attracting new users and increasing transaction volume.
Hot Take:
Base’s impressive initial response and significant adoption by developers and users demonstrate the demand for layer 2 blockchain solutions. Its favorable performance in the DeFi sector and potential for further growth make it an exciting addition to the crypto ecosystem.
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