Layer-2 Base Drives Ethereum Scaling to Record Daily Transactions

Ethereum Layer-2 Ecosystem Reaches New Daily Transaction Record

The Ethereum layer-2 scaling ecosystem has reached an all-time high in daily transactions, with Coinbase’s Base network contributing significantly to the surge in activity.

According to Growthepie data, the total daily transactions across layer-2 networks skyrocketed to 12.42 million on August 12. Base alone processed over 3.6 million transactions, outpacing Arbitrum One, which recorded 1.39 million transactions on the same day.

Over 100 Million Transactions in the Past Month

Base has been one of the most active blockchains over the past month as well. Data from L2Beat shows that the network facilitated more than 111 million transactions in the last 30 days. This impressive figure places Base second in transaction volume, with Xai leading the pack, processing close to 300 million transactions during the same period.

Additionally, Base currently holds the second highest Total Value Locked (TVL) within the layer-2 space, with approximately $6.35 billion locked in decentralized finance (DeFi) protocols on the network. In the last 24 hours alone, Base’s TVL saw a 3% increase. Arbitrum One leads the TVL rankings with over $15 billion following a 6% rise.

BRETT and TOSHI Print Gains While Most Base Meme Coins Slip

The market capitalization of Base meme coins stands at over $1.2 million, despite a slight drop in valuation over the past 24 hours.

• Brett (BRETT) and Toshi (TOSHI), the largest Base meme coins by market cap, posted gains of 3% and 4% respectively in the last trading session.
• Smaller tokens such as Base Chad (CHAD) and MOEW (MOEW) were the top performers, with their prices surging by over 25% and 20% respectively.

With Base’s continued growth and sustained investor interest in meme coins on the layer-2 network, Base Dawgz (DAWGZ) is positioned to benefit. The presale meme coin has already raised over $2.9 million and aims to establish a multi-chain presence, enabling investors to seamlessly transact across some of the most liquid and active networks in the Web3 space.