Coinbase Ethereum Layer-2 Network Base Sets New Record with 270,000 Daily Active Users on DEX

Coinbase’s Ethereum layer-2 network Base has set a new record for the number of daily active users on decentralized exchanges (DEX), hitting 270,000 on June 17th. This marks a 9% increase from the previous day, showcasing the rapid adoption and growth of the platform.

According to data from Dune Analytics, Base-powered decentralized exchanges have now surpassed BNB Chain in terms of active users, trailing only behind Solana. The surge in user activity can be attributed to the increased trading of meme coins on the Base chain, attracting market players looking to capitalize on the hype.

Uniswap emerged as the dominant player on the Base blockchain, capturing over 85% of the user share on June 17th. This was followed by PancakeSwap, Aerodrome Finance, and SushiSwap, highlighting the diverse range of decentralized exchanges operating on the network.

Despite a decline in total DEX volume from $1.2 billion in March to just over $298 million on June 17th, Base continues to attract new capital from investors. The platform has become a hotspot for meme coins, with projects like Degen, All Your Base, Brett, Based Shiba Inu, and Broge gaining traction and contributing to the overall trading volume.

While Solana has traditionally been the go-to network for meme coins, Base is quickly catching up and establishing itself as a leading hub for speculative trading. The platform’s growth and popularity signal a shift in the decentralized exchange landscape, with Base emerging as a key player in the world of cryptocurrency trading.