Coinbase Ethereum layer-2 network, Base, has set a new record for daily active users on decentralized exchanges (DEX), hitting 270,000 on June 17th, a 9% increase from the previous day. Data from Dune Analytics shows that Base-powered DEXs have now surpassed BNB Chain, with the Layer 2 network now trailing Solana in terms of user base.

The surge in trading activity of meme coins on the Base chain is driving this rapid adoption. Base is fast becoming a leading network for meme coin projects, attracting market participants eager to capitalize on the trend. Uniswap dominated the Base blockchain, capturing over 85% of users on June 17th, followed by PancakeSwap, Aerodrome Finance, and SushiSwap.

Despite a decline in total DEX volume since March, Base remains a primary attraction for investors. The shift towards Base can be attributed to the significant growth this year by Base-based meme coins such as Degen (DEGEN), All Your Base (AYB), Brett (BRETT), Based Shiba Inu (BSHIB), and Broge (BROGE). This indicates a positive market outlook for Base and its potential for continued growth.