In a surprising development, the Base Network witnessed a historic high in transaction volume on March March 29. Reportedly, the Base Network’s transactions recorded an astounding 2.275 million, with transaction volume on DEX reaching $730 million.
Chinese reporter Colin Wu shared insights on the remarkable development of the Base Network via his Wu Blockchain page on X. The journalist also shed light on the increasing market value of network stablecoins, which surged by 55% to more than $1.1 billion, marking record highs.
On March 29, the number of transactions on the Base network reached 2.275 million, transaction volume of DEX reached $730 million. The market value of network stablecoins increased by 55% to more than $1.1 billion, both hit record highs; active users on that day reached 383,000,…
— Wu Blockchain (@WuBlockchain) March 30, 2024
The Base Network has also recorded remarkable highs in active users and total revenue. Reports revealed that the Base Network’s active users on March 29 surpassed 380,000. In addition, the total addresses on the network have reached 5.5 million, with a net revenue of $38.02 million and a profit of $20.47 million.
Ryan Watkins, the founder of Syncracy Capital, commented on the potential of the Base Network inspired by the increasing acceptability and demand for the Ethereum L2 network. He cited,
Imagine when Wall Street realizes Coinbase is printing $500M+ in annual revenue from an Ethereum rollup. Base may be the ultimate catalyst that gets enterprises building onchain.
According to L2beat data, over the last month, the Base Network has seen a remarkable surge in the assets locked, increasing over 200%. The Base Network’s key contributor Jesse Pollak shared an X post asserting that the TVL surged from $2 billion to $3 billion in 5 days. According to his post, it took almost 203 days to reach $1 billion TVL and just 23 days to reach $2 billion.
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