Base, Coinbase's Layer 2 Network, Hits All-Time High of 9.2M in Daily Transaction Count

This milestone reflects how quickly Base is being adopted as a choice for L2 scalability, making it a leader in the blockchain space.

Base, the Layer 2 network from Coinbase that runs on Ethereum, has achieved a new milestone with 9.2 million daily transactions, the highest ever recorded.

This achievement showcases Base's rapid adoption as the preferred choice for L2 scalability, making it a leading force in the blockchain landscape.

According to data from BaseScan, the daily transactions for the blockchain have surged astronomically since its launch on Aug. 9, 2023.

The increasing daily transaction count is attributed to the network's capability to handle more activity, driven by its low transaction fees, ease of setup for developers, and seamless integration with Coinbase.

Several factors have contributed to the blockchain's success.

It has become a key platform for decentralized finance applications, non-fungible tokens, and gaming, attracting both developers and users who seek to capitalize on its scalability.

Moreover, its connection to Coinbase's ecosystem provides a point of entry for millions of users to interact with dApps effortlessly.

This positioning enables Base to cater to the expanding crypto industry.

Phantom wallet integration adds another layer to Base's growth story.

Phantom Wallet has announced a major addition to its ecosystem by fully integrating with Base.

Today, we’re rolling out @Base to everyone on Phantom 🔵

You can now:

→ Swap tokens between Base and Solana

→ Access your favorite DeFi and NFT apps

→ Buy ETH and USDC on Base right inside your wallet

pic.twitter.com/woCT3K7qgY

Initially conceived as a wallet for Solana, the Phantom ecosystem has gradually expanded its features to include support for Ethereum and Polygon, and now integrates Coinbase's layer 2 blockchain as well.

With this new integration, which has progressed past its beta phase, Phantom users can now purchase Ether (ETH) and USD Coin (USDC) on Base, in addition to being able to swap tokens across the Base, Ethereum, Solana, and Polygon networks.

According to Brandon Millman, co-founder and CEO of Phantom, “the future of digital asset management lies in cross-chain interoperability.”

This advancement not only enhances the overall user experience but also strengthens Phantom's presence in Base's ecosystem by facilitating seamless navigation and transactions across the other chains.

Base's success extends beyond its impressive transaction volumes.

As of Nov. 25, it ranks as the largest Layer 2 blockchain with a total value locked (TVL) of nearly $3.4 billion, according to DeFiLlama.

This upswing has placed the blockchain ahead of competitors, such as Arbitrum, which stands at $3 billion.

In the overall blockchain landscape, Base is positioned sixth, following major Layer 1 networks like Ethereum, Solana, and Bitcoin.

With a strong foundation in TVL and a significant growth in user base, the importance of Layer 2 solutions in scalability and adoption is undeniable, as they serve as the central pillar for resolving Ethereum congestion issues and high gas fees, ultimately paving the way for broader adoption across DeFi and dApps.