Coinbase layer-2 network Base hits 136,000 daily active users

Daily active users on Coinbase’s layer 2 blockchain have exceeded 100,000 for the first time, just the day following the official launch of the network.

Dune Analytics figures from Aug. 10 show over 136,000 daily users, the highest daily number in its short history, which also coincides with the second day of its public release.

Around 30% of the daily users on Aug. 10 were new Base users, who amounted to nearly 42,000 — although the record stands at over 60,000 on July 31.

Meanwhile, crypto market data platform CryptoRank in an Aug. 10 X post revealed Base now ranks 4th in daily transactions per second among layer 2 solutions, behind zkSync Era, Arbitrum and Optimism.

Base Now Ranks 4th in Daily TPS Among Layer 2 Solutions #Base Layer 2 launched its mainnet yesterday and is showing robust growth in active users and transactions. Now it ranks 4th by daily TPS (Transaction per second). pic.twitter.com/pnYF0tk7b0

— CryptoRank Platform (@CryptoRank_io) August 10, 2023

Coinbase’s Base network officially launched on Aug. 9 after spending a few weeks in an “open for builders only” phase, dubbing the event the start of the “Onchain Summer.”

Related: Bitcoin Lightning on Coinbase agenda, Brian Armstrong tells Jack Dorsey

Base initially launched in beta version on Feb. 23. As soon as it was announced, many in the crypto community speculated that it could help to onboard more users into Web3 protocols, thanks to Coinbase’s large user base. The network launched its mainnet version “for builders” on July 13, but the team warned that it wasn’t ready for users yet.

Currently, Base users can bridge Ether (ETH) to Base, engage with a decentralized cryptocurrency exchange, make payments with a web-based app, register a “.base” username, or launch a decentralized autonomous organization. 

Magazine: Blockchain games aren’t really decentralized… but that’s about to change