Base has consistently led the Layer 2 generation on Ethereum in the final months of 2024. The question remains whether this growth momentum will continue into the next year.
Base is a blockchain project experiencing exceptional growth. In Q4-2024, the number of transactions on its network has remained above 8 million per day, standing out compared to other Layer 2 projects.
Since March, Base has seen a significant increase in transaction volume, rising from 500,000 to over 7.5 million transactions per day by December 2024. This growth far outpaces other optimistic rollup networks, which have only seen modest growth of 50-100% in the same period.
In October alone, Base attracted 13.7 million new users, surpassing Ethereum's average of 1.56 million new users per month. This rapid growth has made Base the fastest-growing blockchain chain, while Bitcoin, despite reaching the $100,000 mark, has struggled to attract new users, with interest primarily driven by speculation.
User growth on Layer 2 projects. Source: Flipside.
Base not only attracts new users but also has the ability to maintain active participation. In 2024, Base attracted 15.1 million "super users"—those who make over 100 transactions—surpassing Ethereum's 10.7 million. This indicates that Base is not just attracting regular users but also retaining highly active ones, creating a significant difference compared to other platforms.
In the decentralized exchange (DEX) space, Uniswap continues to strengthen its leading position, accounting for 91.3% of user activity on Base.
Base's ecosystem also stands out thanks to the Virtuals protocol, with the AI Agents project gaining significant attention in December 2024. Tokens related to Virtuals reached a total market capitalization of $3 billion, positioning Base as a key hub for new tokens in this sector.
Another notable event is that MegaETH raised $10 million in just 3 minutes on the Echo platform, marking the largest fundraising round on this platform.
The largest market capitalization tokens on the Base blockchain. Source: CoinMarketCap
The development team of Base is also working hard to scale the network. Currently, Base faces challenges with data storage, as the storage capacity needs to increase by 500GB per week for archive nodes, and the deployment time for nodes has stretched to 15 hours.
To address this, Base has announced plans to implement Reth, a solution aimed at improving storage efficiency and deployment speed while maintaining its commitment to transparency and community participation.
The total value locked (TVL) on Base has surpassed $3.5 billion, indicating the growth of its ecosystem and the increasing trust of users, despite significant market fluctuations.
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