Base Sets New ATH in Daily Transactions, Outpacing All Other L2s

Base Blockchain Breaks Record with Over 10 Million Daily Transactions

On November 26, the Base Network saw an unprecedented 11.447 million daily transactions, marking a new record for the blockchain. This surge in transactions was attributed to the growing popularity of its memecoin protocols, Clanker and Virtuals. The influx of users engaging with these protocols contributed significantly to the rise in daily transactions.

Notably, the increase in daily transactions has positioned Base above all other Layer 2 (L2) networks. According to Defillama data, the blockchain’s total volume in the last 24 hours reached an impressive $2.04 billion.

Memecoin Protocols Fueling Base Blockchain’s Growth

The success of the Base Network’s memecoin protocols is a key factor behind its transaction surge. Here’s an overview of the performance of these protocols:

• Clankers – Despite being in the market for less than three weeks, Clankers has already generated $7.16 million in protocol revenue.
• Virtuals – Another memecoin protocol contributing to the surge in user activity.

BASE Token Price Overview

The price of the BASE token has also seen significant growth in recent days. In the past 24 hours, the token surged by an impressive 80.96%. It started the day at $0.000007602 and quickly reached the $0.00001 range as the market reacted to the bullish trends.

As of writing, the BASE token is trading at $0.00001391 according to CoinMarketCap (CMC) data. Over the past week, the token has experienced an even more remarkable increase of over 200% in price. This surge is reflective of the increased activity within the Base ecosystem, which has gained substantial traction since the announcement of fault proofs on its mainnet in October.

Memecoin Mania and Broader Market Trends

The memecoin boom isn’t limited to the Base ecosystem alone. The broader cryptocurrency market is also experiencing increased interest in memecoins. This, combined with the bullish sentiment in the altcoin sector, has created a perfect storm for growth across various tokens. Ethereum, for example, saw a 10% surge just hours ago, contributing to the overall bullish momentum in the market.

With Base leading the charge, the blockchain ecosystem continues to draw significant attention from both investors and users alike. As the network pushes new boundaries, it will be interesting to see how the momentum builds in the coming weeks.