Coinbase’s Base layer-2 network has hit a record number of daily active addresses amid a surge in new “basenames” services.
Coinbase’s Base layer-2 network has hit 1 million daily active addresses amid a surge in new “basenames” being registered on the blockchain. Base hit a record 1.05 million daily active addresses on August 24 and has since dropped slightly to 1.03 million daily active users as of publication.
This figure represents a 60% growth in the number of daily active addresses since the beginning of August.
Following its recent surge in users, Base now has more daily active addresses than the next few protocols combined. For comparison, Arbitrum has the second-highest number of daily active addresses at 394,000, while Linea has 198,000 and Mantle has 69,000, according to data from Ethereum data platform Growthepie L2.
The record number of new daily active addresses comes after the launch of the “ Basenames ” service on the blockchain network on August 21. Base creator Jesse Pollak noted that more than 200,000 new ETH usernames were created in the first week of the new service.
Powered by the Ethereum Domain Name Service platform, Base names allow network users to purchase names tied to their Base wallet addresses, allowing for more accessible communication between users on the network.
For comparison, there are 1.96 million active ENS names at the time of writing. It took nearly two years for ENS to reach 200,000 registered addresses.
While Basenames is growing, the Base network is also seeing growth in financial activity. According to defillama data, total volume on the Base network has accelerated over the past five months. Base now accounts for 9.25% of total DEX volume on Ethereum, up from 2.81% in March.
The layer-2 chain also hit a record of 4 million weekly active addresses during the network’s “Onchain Summer” campaign on August 20. Base has launched an “Onchain Summer” event in 2023 to drive adoption of the layer-2 network.
Stay tuned to Coin Moi for the latest market news!
The article Base Hits 1 Million Daily Active Addresses as Basenames Launches appeared first on CoinMoi .
