Base Network Daily Transaction Volume Reaches New Record
Date: 2024-12-06 Author: Oliver Abernathy Categories: BLOCKCHAIN
In the last 24 hours, the second-layer Base blockchain has set a new record, processing more than 8.8 million transactions. This impressive figure has attracted the attention of experts and users, highlighting the growing popularity of the network. On November 28, the amount of transfer fees reached a three-month high, amounting to $766 thousand.
Amid the growth of Base activity, the number of transactions in other second-layer blockchains has also increased. For example, the Arbitrum network recorded 2.5 million transactions, and Optimism - about 900 thousand. However, in comparison with them, Base demonstrates a significantly higher level of activity.
The total value locked (TVL) in the Base network has reached $3.6 billion, which is also a significant achievement. Over the past seven days, net inflows have totaled over $227 million, while Solana has only seen $71 million in the same period.
According to analysts, the increase in transactions is largely due to the popularity of AI-related protocols such as Virtuals Protocol. This decentralized project allows users to create and monetize AI agents for use in games, entertainment, and social platforms. The innovative features of Virtuals Protocol are driving developer and user interest in the Base network.
The Base second-layer network was launched on August 9, 2023, by Coinbase, the world's second-largest cryptocurrency exchange by trading volume. Base provides developers with easy-to-use tools to build financial applications, decentralized exchanges, tokens, and NFTs. These features make the blockchain attractive to a wide range of crypto market participants.
The rise in Base's popularity and the increase in network activity highlight its importance in the second-layer blockchain ecosystem and confirm a steady upward trend.
