Coinbase layer-2 network Base has topped 1 million daily active addresses amid a massive surge in the number of new “basenames” registered on the blockchain.&nbsp;
Base reached a record 1.05 million daily active addresses on Aug. 24 and has fallen slightly to 1.03 million daily active users as of the time of publication.&nbsp;
This figure represents a 60% growth in the number of daily active addresses since the start of August.
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 <img alt="Base hits 1M daily active addresses as Basenames takes off" name="" src="https://s3.cointelegraph.com/uploads/2024-08/01919178-eaeb-7033-9273-1d760165b502">
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 Base topped 1 million daily active users on Aug. 24. Source: Dune Analytics&nbsp;
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Following the recent uptick in users, Base now has more daily active addresses than the next several protocols combined.&nbsp;
In comparison, Arbitrum boasts the second-highest number of daily active addresses with 394,000 while Linea reported 198,000 and Mantle with 69,000, according to <a data-ct-non-breakable="null" href="https://www.growthepie.xyz/" rel="null" target="null" text="null">data</a> from Ethereum L2 data platform GrowThePie.
<h2 id="strong-over-200-000-basenames-minted-strong">Over 200,000 Basenames minted</h2>
The record number of new daily active addresses came following the launch of the “<a data-ct-non-breakable="null" href="https://base.mirror.xyz/ofu68-hGbQuf-_oNsMNTVM373lByUVjcHDh5CF2KSNQ" rel="null" target="null" text="null">basenames</a>” service on the blockchain network on Aug. 21.&nbsp;
Base creator Jesse Pollak noted that over 200,000 new Base.eth usernames had been minted in the first week of the new naming service being live.&nbsp;
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 <img alt="Base hits 1M daily active addresses as Basenames takes off" name="" src="https://s3.cointelegraph.com/uploads/2024-08/01919179-7720-7720-b4e0-a6dac4e8653d">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/jessepollak/status/1828103656069386557" rel="nofollow noopener" target="_blank" text="null">Jesse Pollak</a>
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Powered by the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ethereum-name-service-open-building-in-house-layer-2-ens-director" rel="null" target="null" text="null">Ethereum Name Service platform</a>, Basenames allow network users to purchase a name tied to their Base wallet address, allowing more accessible communication between users on the network.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ethereum-dapp-volumes-drop-33-in-a-week-is-more-eth-price-weakness-ahead" rel="null" target="null" text="null">Ethereum DApp volumes drop 33% — Is more ETH price weakness ahead?</a>
In comparison, there are 1.96 million active ENS names at the time of publication. It took nearly two years for ENS to reach 200,000 registered addresses.
<h2 id="strong-base-network-trading-volume-pumps-strong">Base network trading volume pumps</h2>
While Basenames are taking off, the Base network has also witnessed growth in financial activity.&nbsp;
According to DefiLlama data, the total trading volume across the Base network has accelerated in the last five months.
Base now accounts for a 9.25% share of total DEX volume on Ethereum, up from 2.81% in March.&nbsp;
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 <img alt="Base hits 1M daily active addresses as Basenames takes off" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191917a-1c8d-7541-b8d7-bc705d9f3ece">
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 Base now accounts for 9.25% of all DEX volume on the Ethereum network. Source: DefiLlama
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The layer-2 blockchain also notched a record <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/coinbase-base-4-million-active-addresses-onchain-summer" rel="null" target="null" text="null">4 million weekly active</a> addresses amid the network’s “Onchain Summer” campaign on Aug. 20.&nbsp;
Base launched the “Onchain Summer” event in 2023 to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/base-onchain-summer-over-700-thousand-nfts-minted-268-thousand-users" rel="null" target="null" text="null">spur adoption for the layer-2 network</a>.&nbsp;
X Hall of Flame — <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/cryptocurrency-electric-capital-avichal-garg/" rel="null" target="null" text="null">Coinbase will not mention ‘crypto’ in five years: Avichal Garg</a>

Base hits 1M daily active addresses as Basenames takes off

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