Base Daily Transactions Exceed 4.5 Million, Setting New High Driven by Coinbase's cbBTC Launch
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September 18, 2024
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Base daily transactions surged past 4.5 million, hitting an all-time high. Coinbase recently launched cbBTC on Ethereum and the Base network, driving growth in Base chain activity. cbBTC is an ERC-20 token backed 1:1 by BTC held by Coinbase, designed for use in DeFi applications on Ethereum and the Base ecosystem. The product aims to compete with WBTC, currently the largest tokenized BTC product with a market cap nearing $9 billion. (The Block)
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