Coinbase's Layer-2 Network Base Now Boasts Over 1M Daily Active Wallets

The Coinbase-launched Ethereum layer-2 Base has witnessed an amazing month in terms of adoption, hitting various milestones to now witness over 1 million daily active wallets.

Coinbase's Ethereum layer-2 Base has seen an incredible month of adoption, smashing several milestones and now boasting over 1 million daily active wallets.

This latest achievement is largely attributed to the Basenames service, which has skyrocketed usage over the past few days.

Base crossed the threshold on August 24 as 1.05 million wallets interacted with the layer-2. It has since dropped but can rise again, considering the numerous developments unfolding on the layer-2.

Still, the growth over the past week saw a 60% increase since August started.

This uptrend positions Base at the apex of the Ethereum layer-2 ecosystem. Its daily usage is followed by Arbitrum, which boasts close to 400,000 daily active addresses. Linea takes third place with about 200,000 addresses and Mantle with 70,000.

As Basenames took off and contributed to Base's uptick in usage last week, Jesse Pollak, Base's creator, mentioned the name service minted 200,000 usernames in its first week. It was launched on August 21.

“200K basenames in less than one week,” Pollak celebrated on X.

Basenames is built on top of Ethereum Name Service (ENS), which has amassed at least 1.96 million active names. The service took at least two years to hit 200,000 minted usernames compared to Basenames’ one week.

Base Hit Other Significant Milestones This Month, Too

Beyond Basenames, Base is making moves on other fronts as well. The network is observing growing trading volume as DEXs on the layer-2 account for over 9% of trading volume on Ethereum. That number marks Base's steady growth since March when the network amounted to less than 3% of Ethereum's trading volume.

Base has experienced enhanced usage over the past few months, but August has been its best. And that is thanks to the Onchain Summer program it launched to get more developers and users to adopt the chain. The program also helped it hit 4 million weekly active wallet addresses recently.

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