Base Daily Trading Volume Exceeds 4.5 Million Transactions, Setting a New High
Article is form Jinse
September 17, 2024
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Coinbase's Base Leads the Scaling Race: 4.5 Million Daily Transactions, a New High
According to Golden Finance, Coinbase's Layer 2 solution, Base, continues to dominate the scaling race, achieving a new high with over 4.5 million transactions in a single day on Saturday.
The report attributes this surge in Base's on-chain activity to the recent launch of cbBTC by Coinbase. cbBTC is an ERC-20 token backed 1:1 by Bitcoin held by Coinbase, designed for use in DeFi applications across the Ethereum and Base ecosystems. This product aims to compete with WBTC, currently the largest tokenized BTC product with a market cap nearing $9 billion.
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