Base blockchain sees massive 1,600% growth in daily transactions in 2024: Details
Base, the second layer of Ethereum backed by Coinbase, has seen massive growth since its mainnet launch in August 2023.
In 2024 alone, daily transactions increased by 1,600%, from 372,000 in January to 6.63 million in October.
The total value locked (TVL) also increased from $439 million to $2.51 billion during the same period, an increase of 470%.
This growth was accompanied by a surge in the number of weekly active addresses, which jumped 2,100% from 300,000 to 6.61 million, with new daily active addresses increasing by 5,300%, to 450,000 active addresses.
Base’s share of daily transaction volume on the network also expanded from 0.67% to 9%.
The network also saw a significant acceleration in the adoption of stablecoins,
with its cumulative weekly volume increasing from $620 million in January to $55 billion in November, an increase of over 8,800%.
This growth reflects Base’s ability to offer a low-cost network that supports a variety of applications, with a particular focus on mass payments using stablecoins as a global medium of exchange.