{"id":91297,"date":"2024-08-27T01:37:29","date_gmt":"2024-08-27T05:37:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=91297"},"modified":"2024-08-27T01:37:35","modified_gmt":"2024-08-27T05:37:35","slug":"base-hits-1m-users-as-basenames-surges","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/base-hits-1m-users-as-basenames-surges\/","title":{"rendered":"Base Hits 1M Users as Basenames Surges"},"content":{"rendered":"\n

Currently, Base maintains 1.03 million daily active addresses<\/a>, surpassing other protocols like Arbitrum and Linea. <\/p>\n\n\n\n

\"Base
Base Hits 1M Users as Basenames Surges<\/figcaption><\/figure>\n\n\n\n

The network of Coinbase's layer 2 There has been a significant increase in the number of new “basenames” registered on the blockchain<\/a>, which has led to Base surpassing the milestone of one million daily active addresses. <\/p>\n\n\n\n

Base has only reached 1.03 million daily active users as of the time of publication, a slight drop from its previous record of 1.05 million daily active addresses, set on August 24.<\/p>\n\n\n\n

This number reflects a sixty percent increase in the total number of addresses that are active on a daily basis since the beginning of August. They now has more daily active addresses than the next few protocols combined due to the recent increase in user numbers.<\/p>\n\n\n\n

\"\"
Base topped 1 million daily active users on Aug. 24. Source: Dune Analytics <\/figcaption><\/figure>\n\n\n\n

The statistics from the Ethereum L2 data platform GrowthEpie indicate that Arbitrum has the second-largest number of daily active addresses, with 394,000, while Linea reported 198,000 and Mantle had 69,000. In comparison, Mantle has the highest number of addresses (69,000).<\/p>\n\n\n\n

The launch of the “basenames” service on the blockchain network on August 21 led to the creation of a record number of new addresses that are active every day. Jesse Pollak, the inventor of Base, mentioned that in the first week of the new naming service going live, more than 200,000 new Base.eth usernames were created. <\/p>\n\n\n\n

The Ethereum Name Service platform powers Basenames, allowing network members to obtain a name associated with their Base wallet address.<\/a> This makes it possible for users on the network to communicate with one another in a more accessible manner. <\/p>\n\n\n\n

\"\"
Source: Jesse Pollak<\/figcaption><\/figure>\n\n\n\n

At the time of publication, there were 1.96 million active ENS names. This helps to put things into perspective. Nearly two years were required for the ENS to attain the milestone of 200,000 registered addresses. <\/p>\n\n\n\n

While basenames are experiencing a surge in popularity, the base network has also seen an increase in the amount of financial activity.\u00a0According to the data provided by DefiLlama, the overall trade volume across the Base network has increased to a greater extent over the past five months.<\/p>\n\n\n\n

Base now contributes 9.25% of the entire DEX volume on Ethereum, up from 2.81% in March. This represents a significant increase. Additionally, on August 20th, during the network's “Onchain Summer” promotion, the layer-2 blockchain reached a record number of 4 million weekly active addresses.<\/p>\n\n\n\n

\"\"
Base now accounts for 9.25% of all DEX volume on the Ethereum network. Source: DefiLlama<\/figcaption><\/figure>\n\n\n\n

Base\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> organized an event named “Onchain Summer” in 2023 to encourage more people to embrace the layer-2 network.<\/p>\n","protected":false},"excerpt":{"rendered":"

Currently, Base maintains 1.03 million daily active addresses, surpassing other protocols like Arbitrum and Linea. The network of Coinbase’s layer 2 There has been a significant increase in the number of new “basenames” registered on the blockchain, which has led to Base surpassing the milestone of one million daily active addresses. Base has only reached […]<\/p>\n","protected":false},"author":62,"featured_media":91308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[13662,202,150,128,5340],"class_list":["post-91297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-base","tag-blockchain","tag-coinbase","tag-ethereum","tag-layer-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/images-10-3.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/91297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=91297"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/91297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/91308"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=91297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=91297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=91297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}