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Cryptocurrency News Articles
Coinbase-Backed Base Layer-Two Blockchain Breaks Records with Activity Surge
Apr 12, 2024 at 01:51 pm
Activity on the Layer-2 blockchain incubated by Coinbase, Base, surged in March, with daily transactions reaching a record high of 2.27 million on March 29th, and weekly transactions hitting an all-time high of 9.59 million on March 18th. Base's weekly revenue also reached a record high on March 18th, while decentralized exchanges on Base set a new volume record yesterday with a 24-hour trading volume of $657.19 million.
Coinbase-Backed Layer-Two Blockchain, Base, Experiences Surge in Activity, Smashing Records
The layer-two blockchain incubated by crypto giant Coinbase, Base, is experiencing an unprecedented surge in activity, with daily transactions and transaction volumes reaching record-breaking levels.
On March 29, Base processed an astonishing 2.27 million transactions, setting a new all-time high, according to data from a Dune Analytics dashboard created by user @watermeloncrypto. This remarkable increase follows a weekly all-time high of around 9.59 million transactions on March 18, surpassing the previous record of 9.3 million set in September 2022.
In addition to the surge in transactions, Base's weekly revenue hit a record high on March 18, demonstrating the platform's growing adoption and utility. Decentralized exchanges (DEXs) operating on Base also set record volumes on March 29, with a combined 24-hour volume of $657.19 million, as per data from Llama Challenge.
March has been a banner month for Base, with DEX activity far outpacing previous months. Data reveals a staggering $6.67 billion traded on Base DEXs this month, a significant leap from the $1.26 billion recorded in February.
Earlier this week, The Block reported that Base's total value locked (TVL) surpassed the $1 billion mark, coinciding with Coinbase's announcement to shift more enterprise and customer USDC balances onto the L2.
A noteworthy contributor to Base's recent activity is the launch of mfercoin by Sartoshi, the founder of the well-known cc0 mfers non-fungible token (NFT) collection. Late last night, the mfercoin token was airdropped to mfer NFT holders, sparking a flurry of activity.
Currently, mfercoin trades at around $0.23, with a self-reported market capitalization of approximately $232 million, according to CoinMarketCap. CryptoSlam data indicates a surge in mfer NFT sales by over 6,000% in the past 24 hours, significantly boosting its floor price to 0.719 ETH on OpenSea.
This surge in activity on Base is a testament to the growing interest in layer-two solutions as the crypto industry seeks to address scalability and cost challenges. Base, with its backing from Coinbase, is well-positioned to capitalize on this trend and establish itself as a leading L2 platform.
However, it is important to note that all investments, including cryptocurrencies and NFTs, carry inherent risks. Investors should conduct thorough research and exercise caution before making any investment decisions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- CET: The Native Token of the CoinEx Cryptocurrency Exchange
- Sep 25, 2024 at 10:30 am
- CET is the native token of one of the leading cryptocurrency exchanges, CoinEx. It is an ERC-20 token based on the Ethereum network that was launched in 2018.
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- Dogecoin ($DOGE) Primed to Hit $1 By December This Year, Market Analyst Master Kenobi Predicts
- Sep 25, 2024 at 10:25 am
- The early aftermath of the current Federal Reserve (Fed) interest rate cuts has been constructive for the final crypto business as main property like Dogecoin have been displaying optimistic sentiment.
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- IMX Token Price Prediction: Can It Break the $2 Resistance Level and Rally Higher?
- Sep 25, 2024 at 10:25 am
- Over the past 24 hours, IMX has jumped an impressive 12.14%, reaching a price of $1.81. This upswing has stirred speculation about whether the token can break through a key resistance level of $2.
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- How to Play Local Multiplayer in Marvel Vs. Capcom Fighting Collection: Arcade Classics
- Sep 25, 2024 at 10:15 am
- There's no separate versus mode in this compilation. These arcade classics were designed with a primary mode where you feed quarters to try your luck against the CPU.
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- Bitcoin (BTC) Market Value to Realized Value (MVRV) Ratio Hints at an Upcoming Shift in Momentum
- Sep 25, 2024 at 10:15 am
- Ever since the United States announced its latest interest rate cut, Bitcoin [BTC] experienced a gradual rebound in price. The cryptocurrency surged to a peak of over $64,000 on the 23rd of September, gaining 8.5% in value over the last week.
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- Bitget Announces Price Prediction Contest Ahead of Hamster Kombat Coin Listing
- Sep 25, 2024 at 10:15 am
- The contest invites participants to predict the highest HMSTR coin price during its first 24 hours of trading. The winner of the contest will receive $100 in HMSTR tokens if their prediction is the closest to the actual price.
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- Solana (SOL) Poised for a Massive Upside Rally Targeting $165 After Its Consolidation Breakout
- Sep 25, 2024 at 10:15 am
- Solana (SOL), the fifth-biggest cryptocurrency by market cap appears bullish and poised for a massive upside rally following its consolidation breakout.
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- RCO Finance: The Under the Radar Cardano (ADA) Alternative
- Sep 25, 2024 at 10:15 am
- Amidst the uncertainty surrounding Cardano (ADA), RCO Finance presents the perfect opportunity for investors to hedge their investments and make significant returns.
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- EverValue Announces Upcoming Presale of Its EVA Token, Combining Bitcoin-Backed Stability with Innovative Features
- Sep 25, 2024 at 10:15 am
- Unlike traditional platforms, EverValue allows investors to maintain full control of their tokens, without relying on third-party storage solutions.