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Base Blockchain, the layer-2 network launched by Coinbase in 2023, is doing well as the ‘crypto winter’ continues. 
<a href="https://app.nansen.ai/macro/blockchains?chain=base" target="_blank">Nansen</a> data shows that the network’s number of users is growing and beating many blockchains like Avalanche (<a href="https://crypto.news/price/avalanche/" target="_blank">AVAX</a>), Polygon (<a href="https://crypto.news/price/polygon/" target="_blank">POL</a>), and Cronos (<a rel="" href="https://crypto.news/price/cronos/">CRO</a>). 
The number of active addresses jumped to a record high of over 1.964 million, up from the year-to-date low of 196,000.&nbsp; 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="2372" height="717" src="https://crypto.news/app/uploads/2024/09/Base-Active-Addresses.jpeg" alt="Base Blockchain" class="wp-image-14297872">
 <figcaption class="wp-element-caption">
 Base network active addresses | Source: <a href="https://app.nansen.ai/macro/blockchains?chain=base" target="_blank">Nansen</a>
 </figcaption>
</figure> 
Another number reveals that the number of transactions handled by Base Blockchain has jumped to 4.8 million, up from January’s low of less than 300,000.&nbsp; 
Meanwhile, the number of daily deployments in the network rose to an all-time high of near 18,000 earlier this month. 
 You might also like: <a rel="" href="https://crypto.news/coinbase-launches-cbbtc-a-wrapped-bitcoin-token/"> Coinbase launches cbBTC, a wrapped Bitcoin token </a> 
In contrast, as <a href="https://crypto.news/avalanche-is-at-risk-as-staking-yield-active-addresses-dip/" target="_blank">we wrote this week</a>, Avalanche’s number of active addresses and transactions have dropped by over 50% from the highest level this year.&nbsp; 
This growth happened as more developers embraced the network because of its strong speeds and low transaction costs.&nbsp; 
According to <a href="https://defillama.com/chain/Base" target="_blank">DeFi Llama</a>, Base has 348 dApps in the decentralized finance industry and a total value locked of $1.57 billion, making it the sixth-biggest chain. The biggest DeFi dApps in its ecosystem are Aerodrome, Uniswap, Extra Finance, AAVE, and Morpho Blue.&nbsp; 
It is also the sixth-biggest in terms of stablecoins in the ecosystem, with over $1.57 billion. It will likely have more stablecoins when it is included in Tether’s network.&nbsp; 
Most importantly, Base Blockchain has also become the third-biggest chain in the decentralized exchange industry, where its dApps handled a volume of $3 billion in the last seven days. This made it bigger than Arbitrum, which processed $2.77 billion. 
Developers and users love Base because of its low gas fees. According to Nansen, while its transactions have jumped, the amount of gas fees fell to $50,425, down from over $2.3 million in March. Base has <a href="https://tokenterminal.com/terminal?v=NjdmMzczMzE0ZjQ0NWI5Nzk1ZTMxZGM2" target="_blank">made</a> just $57 million in fees this year while Ethereum and Tron have made over $1 billion.&nbsp; 
The performance of Base is a good thing for Coinbase, which is losing market share to companies like Crypto.com, Huobi, and Bybit. 
Coinbase <a href="https://www.theblock.co/data/crypto-markets/spot/cryptocurrency-exchange-volume-monthly" target="_blank">handled</a> crypto volume worth $66 billion while the others had volume of over $70 billion.&nbsp; 
 You might also like: <a rel="" href="https://crypto.news/solv-protocol-launches-bitcoin-staking-for-cbbtc-holders-on-base/"> Solv Protocol launches Bitcoin staking for cbBTC holders on Base </a>

Base Blockchain active addresses, transactions hit all-time high

crypto.news

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