The recent acceleration in the use of the Base platform, a Layer 2 development backed by Coinbase, is reshaping the decentralized exchange (DEX) landscape. In an impressive leap of activity, the number of DEX users on Base grew 53% in the last 24 hours, reaching a new record of 267,000 active users. This increase put Base ahead of Binance Chain, which records 154,000 active DEX users, according to the latest data available from Dune Analytics.

This growth in Base is largely driven by Uniswap, which represents 64% of the transaction volume on the network. This leverage has been instrumental in positioning Base as one of the most active networks in terms of DEX users this month.

Furthermore, Base recorded a remarkable 1.3 million daily active users last week, capturing 20% ​​of the market share among all DEXs. This substantial increase in activity comes on the heels of the recent fascination with memecoins. More than 650,000 tokens were created on the Base network in 2024 alone, as the Dune Analytics report shows. Among the most notable are Brett (BRETT) and Toshi (TOSHI), which boast market caps of $1.21 billion and $115 million, respectively, according to CoinGecko.

In addition to Brett and Toshi, other memecoins such as Degen (DEGEN) and Normie (NORMIE) have also been highly traded on the platform. Since its inception, Base has processed more than 338 million transactions.

In the financial aspect, June was a landmark month for Base, which reached US$7 billion in total locked value (TVL) in its protocol. This milestone positions it as the second largest Layer 2 platform, behind only Arbitrum One, according to data from L2BEAT.

Meanwhile, the industry is keeping an eye on Coinbase’s new initiative, the browser-based on-chain smart wallet designed to reduce friction by simplifying the account management process. This smart wallet is currently available for testing on the testnet.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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