Base, Coinbase’s Layer 2 blockchain, has distinguished itself as a top performer in the blockchain ecosystem by utilizing Optimism’s OP Stack technology to deliver exceptional results. The platform has shown significant increases in active users, transaction volumes, and monthly user growth, surpassing key competitors such as Ethereum, Arbitrum, and Optimism.
Since its public debut in August 2023, Base has achieved impressive milestones, averaging 4.7 million new users per month as of November 2024. This growth rate outpaced other major blockchain networks, as highlighted in a recent Flipside report. Notably, in October alone, Base accounted for 13.7 million of the 19.4 million new users across seven blockchain platforms, including Bitcoin and Avalanche.
Base’s growth goes beyond attracting casual users, excelling in the rise of “super users”—those who complete 100 or more DeFi transactions per month. By early December, Base reported 15.1 million super users, surpassing Ethereum’s 10.7 million and Polygon’s 7 million.
Base’s remarkable growth is closely linked to Coinbase’s robust ecosystem, which oversees around $130 billion in assets. This strong foundation enables Base to attract and retain a wide range of users. Additionally, its strategic focus on high-demand areas like memecoin trading and NFTs has solidified its position as a leader in the blockchain space.
A key highlight of Base’s progress has been the rapid expansion of Uniswap, a prominent decentralized exchange (DEX). User activity on Uniswap within Base surged dramatically, climbing from 36.8% to 91.3% of total activity on decentralized exchanges. This showcases Base’s ability to effectively support and enhance decentralized application performance.
Base’s success highlights its ability to deliver scalable solutions for decentralized application developers while sustaining strong user engagement. Leveraging optimistic rollups, the platform ensures a fast and cost-efficient transaction environment, playing a vital role in advancing blockchain adoption.
Its targeted focus on NFTs and memecoin trading has broadened its appeal to diverse audiences, while its solid infrastructure has established it as a frontrunner in supporting decentralized exchanges. By combining cutting-edge technology with an intuitive ecosystem, Base has set a new standard for blockchain platforms.
