Coinbase’s Layer 2 network, Base, is rewriting the rules of crypto with its remarkable achievements. On September 14th, the network achieved an unprecedented milestone, processing a staggering 1.88 million daily transactions.
This impressive feat propels Base ahead of well-established competitors like Arbitrum and Optimism.
Base’s rapid rise to prominence, which began less than two months ago, can be attributed to several factors, including Coinbase’s significant influence and the growing enthusiasm for decentralized applications (dApps) such as Friend.Tech.
While the record-breaking transaction count on September 14th grabs headlines, other key metrics underscore the network’s robust health. The base boasts an average of 888,000 daily active addresses, accounting for a significant 60% of all addresses utilizing the Optimism roll-up.
As network activity continues to surge, the total value locked (TVL) within Base has surged to an impressive $386 million, securing Base’s position as the fourth-leading Layer 2 protocol in terms of TVL, according to L2beats’ data.
The daily transactions per second (TPS) have also seen a substantial increase, reaching 19.57 TPS. Over the past month alone, the network has recorded a staggering 20.5 million transactions, highlighting its exceptional growth.
Base has rapidly become the preferred choice for numerous decentralized protocols, attracting a host of high-profile dApps. However, the driving force behind its vibrant activity is the flagship social application, Friend.Tech.
Friend.Tech introduces an innovative platform that enables users to link their Twitter accounts to their FT profiles, opening the doors to social media monetization.
Through this platform, users can create unique keys for purchase or sale, unlocking exciting opportunities.
Since its inception, Friend.Tech has attracted an impressive user base of over 100,000 individuals, facilitated inflows exceeding $200 million, and generated over $10 million in fees.
