The world’s largest crypto exchange Coinbase launched their own layer 2 blockchain last month called Base.
This past week, it hit a new record high for daily transactions and has already become one of the most popular layer 2 chains in the world.
By the numbers:
- Last week Base had 1.88M unique transactions in a single day, an all time high for the chain
- There are over 800,000+ active wallet addresses on Base
- Currently there is approximately $386M in total locked value on Base, a number which is growing by the day
What’s happening:
- Base has become immensely popular since being launched, rocketing to becoming one of the most popular layer 2 blockchains in all of crypto
- One of the most popular new decentralized applications to launch Friend Tech was built on top of Base, which quickly attracted over 100,000+ new users
Why it matters:
- Coinbase has been building new features and interrogations at a feverish pace, including their recent announcement to adopt the Lightning Network for Bitcoin
- While crypto has been experiencing turbulent times for asset prices, Coinbase has been consistently executing and adding value to their platform
The intrigue:
- Coinbase is the first publicly traded company to ever launch their own layer 2 blockchain
- During the initial launch of Base, Coinbase touted partnerships with global brands such as Coca Cola and Atari, although specifics are still yet to be revealed
