Coinbase's Layer 2 Base Sees Impressive Uptick in Token Holders But There's More to the Story

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Top Highlights

• the total value locked (TVL) on the layer-2 network beyond $400 million

• Coinbase launched Base as an Ethereum layer-2 network earlier this year, marking a milestone as the first publicly traded company to launch such a network. Since making the network available for everyone on August 9, Base has witnessed significant growth.

• the number of holders of various tokens on the layer 2 network has been steadily increasing.

• Lesser known tokens such as Echelon Prime (PRIME), and Aero (AERO) have topped the chart recording 16.83k and 7.77k addresses on Base.

• In the past few months, Base has collaborated with several industry players, including Chainlink.

• Base’s rise in popularity can be attributed to the debut of the decentralized social media platform Friend.tech

• Coinbase’s Layer 2

• Base

• Additionally

• Since August 25, 2023, there hasn’t been a single day where the transaction volume for the featured prominent protocols on Base exceeded $4 million

• Data from Dune Analytics further suggested that Daily active users on Base have dropped by over 64%

• However, following an explosive surge as well as retail rush

• the overall activity

• gradually tapered off.