Base Network Surpasses Records with 270,000 Daily Active Users on DEX
The Coinbase Ethereum layer-2 network, Base, achieved a new milestone on June 17th, reaching a record high of 270,000 daily active users on decentralized exchanges (DEX). This marked a significant 9% increase compared to the previous day.
Uniswap Leads the Pack with 85% User Share on Base
Recent data from Dune Analytics indicates that Base-powered DEXs have surpassed BNB Chain in terms of active users, trailing only behind Solana. The surge in user activity can be attributed to the heightened trading of meme coins on the Base network.
- Uniswap captured over 85% of the user share on June 17th
- PancakeSwap followed with 3.8%
- Aerodrome Finance with 3.2%
- SushiSwap at 2.3%
Base Emerges as a Leading Network for Meme Coin Projects
Base is quickly establishing itself as a prominent platform for meme coin projects and speculation, attracting traders keen on capitalizing on the meme coin frenzy. Despite the dominance of Solana in this space, Base is steadily gaining ground and becoming a go-to network for such ventures.
The daily DEX trading volume on Base was reported to be over $298 million on June 17th, with Uniswap accounting for a significant 81.1% of the total volume.
Base: A Hotspot for Meme Coin Trading
While meme coins experienced a dip in their collective market cap, trading volume on these assets is on the rise. Solana has traditionally been the preferred network for meme coin trading, but Base is now emerging as a strong contender for this activity.
- Base-based meme coins such as Degen (DEGEN), All Your Base (AYB), Brett (BRETT), Based Shiba Inu (BSHIB), and Broge (BROGE) have seen significant growth this year.
Hot Take: Base Network Revolutionizing Meme Coin Trading
Base’s exponential growth in daily active users and trading volume positions it as a key player in the meme coin trading landscape, challenging the dominance of established networks like Solana. The network’s appeal to investors and traders alike underscores its potential to lead the market in this niche sector. With meme coins gaining traction and Base’s expanding user base, the platform is poised to redefine the meme coin trading experience.
Sources:
1. https://dune.com/sealaunch/dex-metrics-on-base?Select+Timeframe_ed47bb=120
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