Coinbase Layer 2 Base Overtakes Optimism
According to Dune Analytics, Friend.Tech, a social network platform built on Coinbase’s (COIN) layer 2 blockchain Base, has experienced frenzied activity that has increased daily active users to a record high of 136,000.
Following a modest public release on Wednesday that saw just $10 million in new inflows during its first day as a live blockchain, Base has now surpassed rival layer 2 blockchain Optimism in terms of daily active users and is not far from Arbitrum’s total of 147,000, according to tokenterminal data. This is after Base’s release on Wednesday saw a modest public release that saw just 10,000 users sign up.
Base has transferred $175 million in cryptocurrencies since its inception, with 580,000 transactions recorded on Thursday. Friend.Tech, a social network allowing users to buy or sell shares tied to Twitter figures, has attributed much of this. The beta app, in beta mode, is accessed only with a valid sign-up code. A grayed-out section suggests the platform will release a token, causing activity as users attempt to farm a potential airdrop by sharing referral codes.
(With inputs from Shikha Singh)
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