Base DEX Volume Approaches $3 Billion Amid Growing Adoption
Base, Coinbase’s Layer-2 (L2) blockchain solution, has reached new heights, setting an all-time high of nearly $3 billion in daily decentralized exchange (DEX) trading volume.
This milestone reflects Base’s growing prominence in the L2 space and its role in expanding on-chain transactions for Coinbase users.
Base’s DEX trading volume reaches new milestone
Blockchain Analyst Dan Smith Highlight Base L2’s transaction volume reached a record-breaking US$2.9 billion, of which the ETH-USD transaction volume reached US$1.3 billion, also a record high. Other trading pairs, such as ETH-cbBTC and BTC-USD, are also close to breaking their own records.
The $2.9 billion in DEX trading volume reflects Base’s growing appeal to traders, particularly the ETH-USD currency pair, which has benefited from recent price gains volatility. Another blockchain enthusiast Alexander, famous This milestone marks the first time that Base’s daily trading volume has approached $3 billion, suggesting this development is evidence of L2’s growing popularity.
Airport networkTransaction volume on Base, a liquidity-focused decentralized protocol, also hit an all-time high of $1.68 billion, further underscoring the momentum of the ecosystem.
“This is the first time Base has approached $3 billion, with AerodromeFi hitting a new ATH of $1.68 billion,” Alexander commented.
Base’s success is particularly notable because it operates without a native token. Coinbase explicitly rules out launching token for Baseprioritizing ecosystem growth and user adoption. This approach may have enhanced its appeal by focusing on practicality and reducing speculative risks that might deter long-term users.
“There are currently no plans for a base network token. We are focused on building, and we want to solve real problems and let you build better.” Base lead developer Jesse Pollak point out recent.
Transaction volume and TVL continue to grow
The latest achievement follows earlier milestones achieved by Base, including reaching 1 billion transactions two months ago and beyondgram Daily trading volume reached 6 million in October. More recently, the recent network More than Ethereum Achieve user growth in the growing cryptocurrency market.
Additionally, Base’s total value locked (TVL) continues to grow, indicating increased user engagement, asset inflows, and liquidity within its ecosystem. Rising TVL signals increased confidence in the platform, fostering a stronger, more sustainable platform Decentralized Finance environment.
Despite its impressive growth, Base still faces some criticism. The network is blamed Replicate all aspects of an NFT projectraising concerns about originality and intellectual property rights. While this controversy has not stopped adoption, it highlights the challenges of rapid innovation in the highly competitive blockchain space.
Base’s development trajectory makes it a strong competitor in the L2 field. Competes with established players like Arbitrum (ARB) and optimism (OP). Its focus on practicality, coupled with increasing user engagement and liquidity, paints a promising picture for its future.
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