Ethereum

DeFi

Base

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/base-network-experiences-record-transaction-and-user-activity-growth/" data-wpel-link="internal">Base Network Experiences Record Transaction and User Activity Growth</a> 
According to Chinese Blockchain journalist Wu Blockchain, the Base network witnessed a significant surge in activity, with the number of transactions on the network reaching an all-time high of 2.275 million. This milestone was accompanied by a significant trading volume on decentralized exchanges (<a href="https://coin-turk.com/kripto-para-borsasindan-yuz-binlerce-dolar-calinmisti-saldirinin-z-raporu-yayimlandi" data-wpel-link="internal">DEX</a>) that rose to $730 million. Additionally, the market value of stablecoins on the network saw a notable increase of 55%, surpassing $1.1 billion and setting new records for the Base network. 
<h2 style="text-align: justify" id="strong-network-continuously-sets-new-records-strong">Network Continuously Sets New Records</h2> 
The increase in transactions and trading volume on DEXs reflects the growing trend towards decentralized finance (<a href="https://coin-turk.com/defi-krali-altcoin-geri-dondu-yuzde-74-dususun-ardindan-toparlaniyor" data-wpel-link="internal">DeFi</a>) and the wider adoption of Blockchain-based financial services. With the rising interest in DEXs, users are increasingly turning to these platforms for trading and providing liquidity over centralized exchanges (CEXs). This shift contributes to the overall growth of the Base network, an <a href="https://en.coin-turk.com/ethereums-struggle-amidst-crypto-market-fluctuations/" data-wpel-link="internal">Ethereum</a> Layer 2 scaling solution backed by the US-based cryptocurrency exchange <a href="https://en.coin-turk.com/the-potential-impact-of-spot-bitcoin-etf-applications-on-the-market/" data-wpel-link="internal">Coinbase</a>. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-335227" src="https://coin-turk.com/wp-content/uploads/2024/03/Ethereum-Layer-2-Base.png" alt="" width="1400" height="700"> 
Furthermore, the increase in the market value of stablecoins on the network indicates a rising demand for stablecoins, which are typically pegged 1:1 to the US dollar. Stablecoins play a crucial role in facilitating trading transactions in the crypto market and providing stability in a volatile environment, becoming a significant component of the Base network’s infrastructure. 
Moreover, on March 29th, the number of active users on the Base network reached 383,000, marking the second-highest level of activity in the network’s history. This increase in user activity highlights the growing popularity and utility of the decentralized ecosystem as more individuals and organizations engage with it. 
<h2 style="text-align: justify" id="strong-the-rise-of-the-base-network-strong">The Rise of the Base Network</h2> 
The record-breaking performance of the Base network on March 29th demonstrates its flexibility and capacity to manage increasing transaction volumes and user activity. As developments in Ethereum Layer 2 scaling solutions continue, networks like Base play a crucial role in facilitating secure and efficient decentralized transactions, paving the way for broader adoption and integration of Blockchain-based solutions. 
With its robust infrastructure and expanding ecosystem, the Base network is poised to continue attracting more users from the evolving <a href="https://en.coin-turk.com/defi-sector-surges-with-record-high-total-value-locked/" data-wpel-link="internal">DeFi</a> world, sustaining high trading volumes. As the crypto market continues to expand and evolve, the Base network remains a key player in driving innovation and progress in the DeFi landscape. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/base-network-experiences-record-transaction-and-user-activity-growth/" data-wpel-link="internal">Base Network Experiences Record Transaction and User Activity Growth</a></h5>

Base Network Experiences Record Transaction and User Activity Growth

Table of Contents

COINTURK NEWS

Other articles published on Mar 30, 2024

Easter Heralds a New Dawn for Tether (USDT) and Polkadot (DOT) Supporters Drawn to Koala Coin (KL...

Crypto Currencies Maintain Momentum into 2024

Turn Pennies to Fortunes: Top Altcoins Under $1 Ready to Moon

OpenAI’s ‘Voice Engine’ Redefines Voice Cloning with 15-Second Samples

SBF gets 25 years in prison, Fidelity eyes ETH staking, and Coinbase’s court loss: Hodler’s Diges...

Litecoin (LTC) Price Breaks Past $105, Major Price Rally Expected in April

Join our free newsletter for daily crypto updates!