Base Second Anniversary Shows Strong Growth in Users and Activity

Base Second Anniversary Reports Record Users, Massive TX Surge, and Lo

As reported by the Wu Blockchain, the Base network has recently marked its second anniversary, and the numbers speak volumes about growth, adoption, and technological advancement. 

Source: X (Previously Twitter) 

Within two short years, it has transitioned from a nascent actor in the Layer 2 market to a platform with tens of millions of users, billions locked up in value, and some of the lowest fees in the space. 

Massive Surge in User Activity

According to on-chain data from onbase, the past year has been a turning point for the network. Active users jumped to 1.256 million, representing a staggering 1,280.6% increase compared to the previous year. 

This spike shows that more people are finding value in using Base for daily transactions, DeFi activities, NFTs, and even micro-payments.

In tandem with the user surge, there were 9.869 million transactions in the year, a whopping 2,049.6% increase. 

This kind of activity indicates both hearty developer activity and an increasing number of retail users experimenting with blockchain in a cheaper and more efficient manner.

Billions in Total Value Locked

The platform not only growing in terms of users and transactions but also capital. The network's value locked (TVL) has risen to close to $4.5 billion. This is an impression of solid faith from investors and developers who are deploying and creating applications on the platform. 

Although the general crypto market is reporting a neutral capital inflow currently, Base's consistent TVL is a testament to its solidity.

Lower Fees, Higher Adoption

One of the most significant drivers of this growth has been Base's radical decrease in transaction fees. Base Network fees have decreased by 97.7% from last year. 

This makes it much easier for developers to test new applications and for regular users to send small sums without considering high costs.

Lower costs also enable new applications, ranging from gaming to micro-transactions, that were previously too costly on higher-priced networks. 

This alignment of price and speed is serving the network in attracting more heterogeneous projects and creators.

Expanding Ecosystem and Favorable Sentiment

The network is growing rapidly. From NFT platforms to social sites and DeFi protocols, new initiatives are opting for this platform due to its cost-effectiveness and scalability. 

The growth of the network is further facilitated by its support from Coinbase, which lends it credibility and an entry point into mainstream adoption.

Social opinion regarding Base Second Anniversary is mostly bullish. Enthusiasts point to its quick scaling, user-friendly ecosystem, and developer-friendly infrastructure. 

Some caution exists, however, regarding concerns such as centralization and the issue of being able to switch over easily between various Layer 2 networks.

Coinbase Adds Fee-Free DEX Trading to Main Mobile App

Coinbase has introduced a new feature related to decentralized exchange (DEX) trades to its untapped main mobile app to U.S. clients with several exceptions, including New York. 

In this update, it is included in its strategy to become an app combining centralized and on-chain services to a single location.

The new functionality allows trading Base-native tokens by sending them straight out of their self-custodial wallets devoid of network fees. Trades are executed by the means of 0x and 1inch, decumulating the liquidity of the largest DEXs such as Uniswap and Aerodrome.

The Road Ahead

Base Second Anniversary has been a period characterized with record growth and expanding vision in future. The problem now is with decentralization and improving cross-network user experiences. 

Provided it does, it can become one of the most influential and important centers of on-chain activities of the following years.

With the Base Second Anniversary behind them, the platform is proof to the idea that scale and affordability will coexist and that innovation can indeed drive uptake in an otherwise conservative region.