New Coinbase Ethereum Layer-2 Surges to New All-Time High in Daily Transactions, Outpacing Arbitrum and Optimism
Coinbase’s new Ethereum (ETH) layer-2 scaling solution Base set a new all-time high in terms of daily transactions on Thursday.
Base skyrocketed to more than 1.8 million transactions on September 14th, shattering its previous record of around 1.4 million, according to the project’s block explorer.
The new layer-2 project actually clocked more transactions that day than the combined total processed by its rivals Arbitrum (ARB) and Optimism (OP). Arbitrum saw around 500,000 transactions on Thursday and Optimism clocked roughly 378,000, according to their respective block explorers.
Base officially launched last month and is powered by Optimism. Coinbase has previously said it hopes the project helps onboard over a billion people into the crypto economy.
The exchange has noted there are no plans to launch a network token associated with Base. The project is designed to be compatible with Ethereum, Ethereum layer-2s and alternative layer-1 blockchains.
OP is worth $1.38 at time of writing. The 41st-ranked crypto asset by market cap is up 2.2% in the past 24 hours and more than 6.1% in the past seven days.
ARB is trading for $0.788 at time of writing. The 39th-ranked crypto asset by market cap is down more than 2.1% in the past day and more than 12.5% in the past week.
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