Base, Coinbase’s Layer-2 (L2) Blockchain solution, has reached new heights, setting the highest daily decentralized exchange (DEX) trading volume ever near $3 billion.
This achievement reflects the growing importance of Base in the L2 space and its role in expanding the scope of cross-chain transactions for Coinbase users.
Al Qaeda achieves new milestone in decentralized live trading volume
Blockchain Analyst Dan Smith Highlight Base L2’s record volume reached $2.9 billion, including $1.3 billion in ETH-USD trading, which also reached an all-time high. Other trading pairs, such as ETH-cbBTC and BTC-USD, were on the verge of breaking their records.
The $2.9 billion decentralized trading volume reflects Base’s growing appeal among traders, particularly in ETH-USD pairs, which have benefited from recent price fluctuations. Alexander, another blockchain enthusiast, male This milestone marks the first time Base has reached nearly $3 billion in daily volume, pointing to the development as evidence of L2’s growing adoption.
AerodromeFi, a decentralized liquidity-focused protocol on Base, also hit an all-time high of $1.68 billion in volume, further underscoring the ecosystem’s momentum.
“This is the first time Base has exceeded nearly $3 billion in value, and AerodromeFi has identified a new ATH of $1.68 billion in volume,” Alexander Comment.
Base’s success is particularly notable because it operates without a native token. Coinbase has explicitly ruled out launching a Base token, prioritizing ecosystem growth and user adoption instead. This approach likely contributed to its appeal by focusing on utility and reducing speculative risks that could deter long-term users.
“There are no plans for base netcode. “We’re focused on building, and we want to solve real problems that let you build better,” Base lead developer Jesse Pollak male newly.
Continuous growth in transactions and TVL
This latest milestone follows previous milestones achieved by Base, including reaching 1 billion transactions two months ago And transcendg Six million daily transactions in October. More closely, the network recently surpassed Ethereum in user growth amid growing cryptocurrency markets.
Additionally, the total value locked (TVL) of the base has seen steady growth, indicating increased user engagement, asset flows, and liquidity within its ecosystem. A higher TVL indicates greater trust in the platform, promoting a stronger and more sustainable DeFi environment.
Despite its impressive growth, Base has faced some criticism. The network has been accused of copying aspects of the NFT project, raising concerns about authenticity and intellectual property. While this controversy has not prevented adoption, it highlights the challenges of rapid innovation in the competitive blockchain space.
Base’s trajectory positions it as a serious contender in the L2 space, competing with established players like Arbitrum (ARB) and Optimism (OP). Its focus on utility, coupled with high user engagement and liquidity, paints a promising picture for its future.
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