According to BlockBeats, on December 21, CryptoPotato reported that Flipside on-chain analysis showed that the Layer2 network Base, launched by Coinbase, the largest cryptocurrency exchange in the United States, experienced exponential growth in the number of users in 2024. Other networks, such as Bitcoin and some Ethereum-based Layer2 chains, failed to maintain growth throughout the year, and even failed to attract new users.
Flipside's report shows that despite Base's slow start in January, its monthly new users have skyrocketed 56 times this year. In October 2024, the number of new users in the cryptocurrency field surged to a record 19.4 million, of which Base contributed 13.7 million, nearly 8 times the second largest contribution chain Polygon.
This year, Base also attracted 15.1 million super users (those executing more than 100 DeFi trades). This growth is 38.4% higher than Ethereum, which has 10.7 million super users.
On the other hand, despite Bitcoin's historic breakthrough of $100,000, and the U.S. launching a spot Bitcoin exchange-traded fund (ETF), the number of new Bitcoin users continues to grow by 935,900 people per month.
During the significant increase in Bitcoin in March, the monthly growth of new users on the network rose by 19.2%. However, in the rebound following the U.S. elections, the number of new users on the Bitcoin network decreased by 28.5%.
Flipside indicates that this change suggests there is widespread speculative activity among existing Bitcoin network users, rather than a large influx of new users.
According to L2BEAT data, the TVL of the Base network has dropped to $13.41 billion, with a 7-day decrease of 6.95%.
