Base Network Approaches 2 Million Daily Transactions but Lags Behind Polygon and BSC

Base Network Surpasses Transaction Milestone

Base Network, the Coinbase layer-2 solution, recently achieved a significant milestone in terms of daily transactions. According to data sourced from the blockchain explorer BaseScan, the network broke its previous transaction record established upon its launch in August.

New Transaction Record

On September 14, Base Network recorded an impressive 1.88 million transactions, surpassing its previous record of 1.41 million transactions on August 21, the month of its launch. This achievement places Base Network ahead of competing layer-2 networks like Optimism and Arbitrum, which had a combined total of 878,000 transactions on the same day.

Chasing Industry Leaders

Despite this significant achievement, Base Network still trails behind more established blockchains such as Polygon and Binance Smart Chain (BSC). On the same day, Polygon recorded 2.1 million transactions, while BSC recorded a staggering 3.1 million transactions.

Daily Active Users

It’s noteworthy that the surge in transactions on September 14 did not correspond to a similar increase in daily active users for Base Network. While the network had 136,000 daily active users on August 21, it only registered approximately 86,000 on September 14, as reported by Dune Analytics.

Base Network’s Journey

Base Network officially launched on August 9, offering users a range of functionalities, including token bridging, token swapping, liquidity provision, NFT minting, and more typical of layer-2 networks. Since its launch, the network has garnered significant attention and adoption within the crypto community.

On September 6, over 700,000 NFTs were minted, involving more than 268,000 unique wallets on the layer-2 network. In its first two weeks, Base Network facilitated the bridging of over $242 million worth of crypto assets, attracting 130,000 unique wallets daily.

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