Ethereum

Brett (Based)

Aerodrome Finance

Base

Coinbase Ethereum layer-2 network Base has shattered its trading volume record within a 24-hour on decentralized exchanges (DEX), jumping approximately 25% compared to the previous day and surpassing the $1 billion mark.
On March 30, Base recorded $1.21 billion in DEX trading volume, up 25% from the previous day’s $959.63 million, <a href="https://dune.com/sealaunch/dex-metrics-on-base" target="_blank" rel="noopener noreferrer nofollow">according</a> to Dune data.
Most of the trading activity occurred on Uniswap, which accounted for 64.3% of the volume, followed by Aerodrome Finance at 9.7% and SharkSwap at 7.8%.
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/8ca6baa2-73b7-4aae-b9d7-11312bdb5f61.png" alt="" title="">
 <figcaption style="text-align: center;">
 DEX volume (%) across exchanges. Source: Dune
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Daily active users (DAU) also saw a spike of around 12.4%, climbing from 153,000 to 172,000. Over the past six weeks, there has been an average of 667,765 weekly active users.
There is speculation within the crypto community that the growing network could become the next hub for memecoins.&nbsp;
Crypto trader Wizard of SoHo&nbsp;<a href="https://twitter.com/wizardofsoho/status/1770434556765536684" target="_blank" rel="noopener noreferrer nofollow">told</a> his 97,000 X followers that Base reminds him of an “early Solana,” predicting “several billion dollar memecoins on Base.”
Meanwhile, Base contributor Jesse Pollak <a href="https://x.com/jessepollak/status/1772680099629850815?s=20" target="_blank" rel="noopener noreferrer nofollow">polled</a> his 73,200 followers, asking how long until Base becomes the “largest non-Ethereum on-chain economy.” Of the respondents, 49.4% responded with “3 months,” while another 28.6% predicted “within 12 months.”
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/82e5a29f-b24c-43ce-8d64-580552bc3ccc.png" alt="" title="">
 <figcaption style="text-align: center;">
 DEX volume, base DEX metrics. Source: Dune
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At the time of publication, there are currently no tokens on the network with a market capitalization at or above $1 billion.
Degen (DEGEN) and Brett (BRETT) are among the largest Base memecoins, boasting market caps of $709.9 million and $654.6 million, respectively, <a href="https://www.coingecko.com/en/categories/base-meme-coins" target="_blank" rel="noopener noreferrer nofollow">according</a> to CoinGecko.
Only a week prior, on March 25, Cointelegraph noted that <a href="https://cointelegraph.com/news/coinbase-network-base-tvl-doubles-month-memecoins-drive-adoption" rel="noopener noreferrer nofollow">DEGEN’s market cap stood at</a> $143.4 million, marking an almost five-fold increase in the span of seven days.
Related: <a href="https://cointelegraph.com/news/ethereum-dencun-transaction-fees-l2" rel="noopener noreferrer nofollow">Ethereum Dencun upgrade lowers transaction fees for L2s</a>
On March 27, Cointelegraph reported that Coinbase will start moving more of its customer and corporate USD Coin (<a href="https://cointelegraph.com/usdc-price-index" rel="noopener noreferrer nofollow">USDC</a>)&nbsp;stablecoin accounts to Base.
Coinbase vice president Max Branzburg stated in a post on social media that&nbsp;the move would allow the crypto exchange to “manage and secure customer funds with lower fees and faster settlement times.”
The change will only affect Coinbase.com accounts, not Coinbase Wallet, as those users are responsible for their own private keys.
Magazine: <a href="https://cointelegraph.com/magazine/creating-good-agi-that-wont-kill-us-all-with-crypto-artificial-superintelligence-alliance/" rel="noopener noreferrer nofollow">Creating ‘good’ AGI that won’t kill us all: Crypto’s Artificial Superintelligence Alliance</a>

Base sets record high DEX volume day, surpassing $1B

Cointelegraph

Other articles published on Mar 31, 2024

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