Base Layer-2 Ecosystem Gains Momentum After Dencun Upgrade
The Layer-2 ecosystem Base, supported by Coinbase, has seen a significant increase in activity following the Dencun upgrade on Ethereum.
Blockchain data analytics platform Intotheblock’s latest analysis revealed a 196% increase in transactions on leading Layer-2 platforms, reaching 5.67 million transactions.
Base accounted for approximately 57% of the transactions, emerging as the largest contributor. Arbitrum and Optimism carried out 31% and 11% of the transactions, respectively.
This significant increase not only shows that Layer-2 scaling solutions are increasingly being adopted and in demand but also indicates the arrival of Base Spring.
The transaction volume in the Base ecosystem exceeded 1.6 billion dollars for the first time, surpassing popular players like Optimism.
In recent months, Base has experienced a notable increase in network activity, primarily driven by the growing craze surrounding memecoin projects.
A report by blockchain data analytics platform DefiLlama reported a record level of 1.5 billion dollars in the Base network, reflecting a 235% increase since the beginning of the year due to the influx of memecoin mania.
(With inputs from Shikha Singh)
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