In a surprising development, the core network witnessed an all-time high in transaction volume on March 29. Basic network transactions reportedly recorded an astonishing 2.275 million, with transaction volume on DEX reaching $730 million.
Chinese reporter Colin Wu shared insights on the remarkable development of the basic network via his Wu Blockchain page on which marked record highs. .
On March 29, the number of transactions on the Base network reached 2.275 million, the transaction volume of DEX reached $730 million. The market value of network stablecoins rose 55% to over $1.1 billion, both reaching record highs; active users on that day reached 383,000,…
— Wu Blockchain (@WuBlockchain) March 30, 2024
The Basic Network has also posted notable highs in terms of active users and total revenue. Reports indicated that the number of active users of the basic network exceeded 380,000 on March 29. In addition, the total addresses on the network have reached 5.5 million, with net revenue of $38.02 million and profit of $20.47 million.
Ryan Watkins, the founder of Syncracy Capital, commented on the potential of the basic network, inspired by the increasing adoption and demand for the Ethereum L2 network. He quoted,
Imagine if Wall Street realizes that Coinbase is squeezing more than $500 million in annual revenue from an Ethereum rollup. Base can be the ultimate catalyst that drives companies to build the chain.
According to L2beat data, the basic network has seen a notable increase in blocked assets over the past month, with an increase of more than 200%. Base Network’s top contributor Jesse Pollak shared an X-post claiming that TVL rose from $2 billion to $3 billion in five days. According to his post, it took almost 203 days to reach $1 billion TVL and only 23 days to reach $2 billion.
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