Base Hits 1M Daily Active Addresses as Basenames Grow

The Coinbase Layer-2 network Base has hit 1 million daily active addresses after new “basenames” registrations on the blockchain continue to soar.

As per the Ethereum L2 data platform, growthepie, Base reached a record 1.05 Million daily active addresses on August 24, as the figure grew since the start of August. When it comes to its transaction count, DeFI accounts for 23.41% and 15.74% accounts for operations including token transfers. The network ranks first in terms of on-chain profit made by blockchains. Arbitrum, on the other hand, is the second-most used L2 network with daily active addresses of 394,000. Linea reported 198,000 daily active users and Mantle with 69,000 daily active users.

This surge in new daily active addresses can be attributed to the successful launch of basename services which are surnames created through ENS.

Base creator, Jesse Pollak tweeted that over 200,000 new Base.eth usernames had been minted in the first week of the new naming service being live. According to DefiLlama data, the total trading volume across the Base network has accelerated in the last five months and is now 499.84m USD.

Base now accounts for a 9.25% share of total DEX volume on Ethereum and had attained a record 4 million weekly active addresses during the network’s “Onchain Summer” campaign on Aug. 20.