2.27M Transactions On Coinbase Base Network Are Record High

(CTN News) – A surge in activity is taking place on the Coinbase-backed Ethereum layer-2 network Base, as March draws to a close. Dune Analytics reported that on March 29 there were a record number of 2.27 million transactions on Base, which is a record high for the platform.

This recent surge in transactions follows a record that was set on March 18 when weekly transactions reached approximately 9.59 million, surpassing the previous Coinbase high of 9.3 million that had been set in September of last year. On the same day, Base’s weekly network revenue hit an all-time high, which is an unprecedented achievement.

Base’s decentralized exchanges (DEXs) have also seen record-high volumes, reaching $676.49 million in 24 hours, which is a record for such an exchange.

DEX activity on Coinbase in March totaled $6.67 billion, a significant increase from the $1.26 billion that had been reported in the previous month.

Coinbase’s announcement that it will store more corporate and customer USDC balances on Base’s L2 coincided with the exceeding of the $1 billion mark in Base’s total value locked for the first time.

Furthermore, the launch of mfercoin by Sartoshi, the founder of the CCC nonfungible token collection mfers, added to Base’s activity as a result of the launch of mfercoin.

This airdrop of mfercoin was conducted to the holders of mfer NFTs, resulting in a 6000% increase in the sales of mfer NFTs, as well as an increase in the floor price of mfer Coinbase NFTs on OpenSea to 0.719 ETH.

As a result of the surge in activity at Base, fueled by record transaction volumes and DEX volumes, it is clear that strong investor confidence is being generated by strategic initiatives like USDC storage and mfercoin launch, both of which are driving NFT sales and market dynamics.

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