Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

XRP – Price coil for an outbreak – is the next leg on hands?

2025-05-21

Fartcoin has increased by 10.62% for the past 24 hours

2025-05-21

Russia plans to intervene Crypto in new action against local payments

2025-05-21
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Smarter athlete data via PSG Labs and Joint Innovation Studio

    2025-05-21

    Sahara AI launches Siwa Testnet to authorize decentralized AI builders

    2025-05-21

    WalletConnect’s Smart Sessions ‘Redefine’ Wallet UX for Future or AI agents: Founder

    2025-05-21

    Adventure Layer is launched as First Gaming L2 on Berachain

    2025-05-20

    Arbitrum affects $ 1.5 billion volume milestone on Uniswap V4

    2025-05-20
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    XRP – Price coil for an outbreak – is the next leg on hands?

    2025-05-21

    Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

    2025-05-21

    JPMorgan Chase CEO warns the stock market witnessing ‘extraordinary amount of complacency’ in the midst of abrupt recovery

    2025-05-21

    Cardano (ADA) in Focus: Can it break this barrier and recover Momentum?

    2025-05-21

    Trader warns Bitcoin (BTC) blinking bearish signal, says gold that steam collects for the next leg up

    2025-05-20
  • Learn

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Blockchain»This is why the number of daily active addresses on a basis has risen above 2 million
Blockchain

This is why the number of daily active addresses on a basis has risen above 2 million

2024-09-27No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Base, the Ethereum Layer-2 protocol developed by crypto exchange Coinbase, has recently witnessed a surge in its activity, resulting in a significant increase in the number of daily active addresses.

According to data from on-chain analytics platform IntoTheBlock, Base’s increase in daily active addresses can be linked to the launch of Coinbase Wrapped Bitcoin (cbBTC) and the introduction of the Base Name Service (BNS).

Basic active addresses are increasing

Coinbase launched cbBTC on Base and Ethereum on September 12, months after integrating the Lightning Network for bitcoin (BTC) transfers onto the protocol. The wrapped token is backed 1:1 by BTC and held by the crypto exchange. It provides users with access to various decentralized finance (DeFi) applications, protocols, use cases and features.

In less than two weeks after launch, cbBTC has amassed over 3,500 users, with an average of $472 million worth of BTC settled on Base daily.

While cbBTC contributes significantly to the growth of Base’s daily active addresses, IntoTheBlock says the hype surrounding BNS plays an even bigger role.

Coinbase launched the Basenames service on August 21. This service allows users to establish their identity on the network by registering human-readable names for their addresses. Like the Ethereum Name Service (ENS), it provides a unified name service and on-chain identity experience for everyone on Base.

Basic names play an important role

Just three days after Coinbase introduced Basenames, the number of daily active addresses on Base reached a record 1.05 million. This figure has now doubled and exceeded two million just a month later.

See also  Popcat -eyes 3x Surge when whales invest $ 80 million, but what about Spothandelers?

Data from Ethereum Layer-2 analytics platform GrowThePie shows that Base currently represents 70% of active addresses among Layer-2 networks based on Ethereum, followed by Arbitrum, which accounts for 9.6%. Base surpassed Arbitrum at the end of June and has remained ahead of protocol ever since. Over the past week, Base has seen over 6.8 million active addresses, while Arbitrum has registered fewer than 943,000 addresses.

It is worth mentioning that cbBTC has received a lot of criticism while contributing to Base’s growth. The crypto community has raised concerns about Coinbase’s lack of transparency into its Bitcoin reserves and the token’s user agreement, suggesting that the exchange would not fully reimburse users for BTC lost due to malicious activity or unforeseen events.

Source link

Active Addresses basis Daily Million number risen
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

2025-05-21

Was the founder of Cardano $ 619 million? Hopkinson makes shocking revelation

2025-05-21

Smarter athlete data via PSG Labs and Joint Innovation Studio

2025-05-21

Bitcoin -Posts record daily and weekly closes – is a breakout on your hands?

2025-05-21
Add A Comment

Comments are closed.

Top Posts

96% of NFT collections are considered ‘dead’

2024-09-21

Creating NFT rewards for coffee lovers

2023-10-04

Bitwise Cio Matt Hougan says that President Trump’s executive Order could put an end to the four-year cycle of crypto-dit why

2025-01-29
Editors Picks

Cardano founder Hoskinson’s single post crashes this NFT by 76%

2023-12-11

Bitcoin Whales Collect Over $2,300,000,000 in BTC as Price Consolidates: Santiment

2023-05-18

LooksRare Monthly NFT Trading Volume Flash Crashes 97% in October: What’s Next?

2023-10-26

Spain orders Worldcoin (WLD) to stop collecting data after receiving several complaints

2024-03-06
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

XRP – Price coil for an outbreak – is the next leg on hands?

Fartcoin has increased by 10.62% for the past 24 hours

Russia plans to intervene Crypto in new action against local payments

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$108,780.863.41%
  • ethereumEthereum(ETH)$2,557.852.88%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.391.86%
  • binancecoinBNB(BNB)$659.162.11%
  • solanaSolana(SOL)$171.892.98%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2313574.86%
  • cardanoCardano(ADA)$0.764.06%
  • tronTRON(TRX)$0.2718720.27%
  • suiSui(SUI)$3.962.34%
  • chainlinkChainlink(LINK)$16.053.14%
  • avalanche-2Avalanche(AVAX)$23.144.41%
  • hyperliquidHyperliquid(HYPE)$27.375.69%
  • stellarStellar(XLM)$0.2931663.65%
  • shiba-inuShiba Inu(SHIB)$0.0000152.91%
  • hedera-hashgraphHedera(HBAR)$0.1985751.96%
  • unus-sed-leoUNUS SED LEO(LEO)$8.851.05%
  • bitcoin-cashBitcoin Cash(BCH)$406.185.02%
  • the-open-networkToncoin(TON)$3.081.04%
  • polkadotPolkadot(DOT)$4.753.25%
  • litecoinLitecoin(LTC)$96.282.35%
  • moneroMonero(XMR)$364.954.99%
  • bitget-tokenBitget Token(BGB)$5.273.13%
  • piPi(PI)$0.819.53%
  • pepePepe(PEPE)$0.0000148.13%
  • daiDai(DAI)$1.000.00%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • uniswapUniswap(UNI)$6.278.13%
  • aaveAave(AAVE)$253.48-3.56%
  • bittensorBittensor(TAO)$426.442.48%
  • nearNEAR Protocol(NEAR)$2.874.97%
  • aptosAptos(APT)$5.243.06%
  • okbOKB(OKB)$52.220.80%
  • ondo-financeOndo(ONDO)$0.963.42%
  • kaspaKaspa(KAS)$0.1129605.77%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.7011.31%
  • ethereum-classicEthereum Classic(ETC)$18.904.18%
  • internet-computerInternet Computer(ICP)$5.354.15%
  • gatechain-tokenGateToken(GT)$21.731.76%
  • crypto-com-chainCronos(CRO)$0.0976231.86%
  • mantleMantle(MNT)$0.74-0.43%
  • vechainVeChain(VET)$0.0288474.27%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2354952.22%
  • render-tokenRender(RENDER)$4.732.96%
  • ethenaEthena(ENA)$0.4000927.74%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • algorandAlgorand(ALGO)$0.2282203.82%
  • arbitrumArbitrum(ARB)$0.4024233.57%
  • filecoinFilecoin(FIL)$2.913.17%
  • bitcoinBitcoin(BTC)$108,780.863.41%
  • ethereumEthereum(ETH)$2,557.852.88%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.391.86%
  • binancecoinBNB(BNB)$659.162.11%
  • solanaSolana(SOL)$171.892.98%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2313574.86%
  • cardanoCardano(ADA)$0.764.06%
  • tronTRON(TRX)$0.2718720.27%
  • suiSui(SUI)$3.962.34%
  • chainlinkChainlink(LINK)$16.053.14%
  • avalanche-2Avalanche(AVAX)$23.144.41%
  • hyperliquidHyperliquid(HYPE)$27.375.69%
  • stellarStellar(XLM)$0.2931663.65%
  • shiba-inuShiba Inu(SHIB)$0.0000152.91%
  • hedera-hashgraphHedera(HBAR)$0.1985751.96%
  • unus-sed-leoUNUS SED LEO(LEO)$8.851.05%
  • bitcoin-cashBitcoin Cash(BCH)$406.185.02%
  • the-open-networkToncoin(TON)$3.081.04%
  • polkadotPolkadot(DOT)$4.753.25%
  • litecoinLitecoin(LTC)$96.282.35%
  • moneroMonero(XMR)$364.954.99%
  • bitget-tokenBitget Token(BGB)$5.273.13%
  • piPi(PI)$0.819.53%
  • pepePepe(PEPE)$0.0000148.13%
  • daiDai(DAI)$1.000.00%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • uniswapUniswap(UNI)$6.278.13%
  • aaveAave(AAVE)$253.48-3.56%
  • bittensorBittensor(TAO)$426.442.48%
  • nearNEAR Protocol(NEAR)$2.874.97%
  • aptosAptos(APT)$5.243.06%
  • okbOKB(OKB)$52.220.80%
  • ondo-financeOndo(ONDO)$0.963.42%
  • kaspaKaspa(KAS)$0.1129605.77%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.7011.31%
  • ethereum-classicEthereum Classic(ETC)$18.904.18%
  • internet-computerInternet Computer(ICP)$5.354.15%
  • gatechain-tokenGateToken(GT)$21.731.76%
  • crypto-com-chainCronos(CRO)$0.0976231.86%
  • mantleMantle(MNT)$0.74-0.43%
  • vechainVeChain(VET)$0.0288474.27%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2354952.22%
  • render-tokenRender(RENDER)$4.732.96%
  • ethenaEthena(ENA)$0.4000927.74%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • algorandAlgorand(ALGO)$0.2282203.82%
  • arbitrumArbitrum(ARB)$0.4024233.57%
  • filecoinFilecoin(FIL)$2.913.17%