Coinbase’s Layer 2 network, Base, is making significant waves in the cryptocurrency world, setting new standards with its outstanding performance.
On September 14, the network achieved an unprecedented milestone, processing a staggering 1.88 million daily transactions.
This remarkable achievement positions Base ahead of well-established competitors like Arbitrum and Optimism.
Base’s remarkable ascent, which began less than two months ago, is a testament to its growing influence. Its success can be attributed, in part, to Coinbase’s widespread reach and the increasing enthusiasm for decentralized applications (dApps) like Friend.Tech.
While the record-breaking transaction volume on September 14th is a notable highlight, other key metrics underscore the network’s robust health.
Base boasts an average of 888,000 daily active addresses, accounting for a significant 60% of all addresses utilizing the Optimism roll-up.
As network activity continues to surge, the total value locked (TVL) within Base has climbed to an impressive $386 million. This places Base as the fourth-leading Layer 2 protocol in terms of TVL, according to data from L2beats.
The network’s daily transactions per second have surged to 19.57, and over the past month alone, Base has recorded a staggering 20.5 million transactions.
Base has quickly become the preferred choice for numerous decentralized protocols, attracting high-profile dApps. However, the driving force behind its vibrant activity is the flagship social application, Friend.Tech.
Friend.Tech is an innovative platform that enables users to link their Twitter accounts to their FT profiles, opening the door to social media monetization. Through this platform, users can create unique keys for purchase or sale.
Since its inception, Friend.Tech has garnered an impressive user base of over 100,000, facilitated inflows exceeding $200 million, and generated over $10 million in fees.