Coinbase’s layer-2 scaling solution, Base, has surpassed Ethereum in terms of daily transaction count, according to data from blockchain analytics firm Artemis.
Base, which launched last month, saw 1.84 million daily transactions on Thursday, September 14th, while Ethereum, the leading smart contract platform, processed 1.28 million transactions on the same day. Since then, Base has consistently exceeded Ethereum’s transaction volume.
The surge in Base’s activity is not coming from decentralized finance (DeFi) applications but is mostly due to the high usage of Friend.Tech, a decentralized social media platform that allows users to buy and trade tokenized shares of creators and influencers.
Friend.Tech saw a meteoric rise and fall in usage in August after a period of initial hype. Daily transactions plummeted 96% from a peak of ~525,000 on August 21 to just over 18,000 by month’s end, according to data from Dune Analytics.
However, the social platform saw renewed growth last week, exceeding its all-time high. This resurgence was driven by users competing for points that will be used for an upcoming airdrop, according to a report from IntoTheBlock.
“Base has quickly become the L2 with the most unique addresses and transactions, fueled by Coinbase’s wide reach, making it a strong candidate for social applications like FriendTech to thrive,” said IntoTheBlock analyst, Lucas Outumuro.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
USDC 
XRP 
Lido Staked Ether 
Dogecoin 
Toncoin