Coinbase’s Base blockchain is slowly emerging as a significant player in the DeFi space. As an Ethereum Layer-2 (L2) scaling solution, Base aims to alleviate the challenges of high transaction fees and network congestion on Ethereum by offering faster and cheaper transactions for DeFi users. And while it’s neither the first nor last L2 to take a turn at tackling Ethereum’s notorious congestion, it managed to relatively quickly establish itself as an important part of the DeFi infrastructure.
Analyzing Base’s success this year shows unrivaled growth in almost every metric. At the beginning of the year, Base’s total users numbered 2.938 million. By Feb. 1, it reached 3.233 million; by March 1, it jumped to 3.694 million. The fastest pace of user growth was recorded in March, as its total userbase reached 5.855 million by the beginning of April and stood at just over 6 million on April 3.
Graph showing the total number of users on Base from June 13, 2023, to April 3, 2024 (Sourc
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