Coinbase’s Base Layer-2 Network Sees 136,000 Daily Users

On August 10, around 30% of Base’s users had never used the blockchain.

Just one day after the network’s formal debut, Coinbase’s layer two blockchain reached a daily active user threshold of 100,000 for the first time.

According to Dune Analytics data from August 10, the second day of its public release, there were over 136,000 daily users, the most significant amount in its brief history.

Daily active users on Base. Source: Dune

On August 10, approximately 42,000 daily users, or around 30% of the total, were new Base users, breaking the previous high of over 60,000 on July 31.

In the meantime, Base now ranks fourth among layer two solutions in terms of daily transactions per second, behind zkSync Era, Arbitrum, and Optimism, according to an article on August 10 published by cryptocurrency market data portal CryptoRank.

After spending a few weeks in an “open for builders only” phase, Coinbase’s Base network launched on August 9 officially, marking the beginning of the “Onchain Summer.”

On February 23, Base officially began its beta testing phase. Many in the cryptocurrency sector thought it might encourage more people to adopt Web3 protocols as soon as it was introduced because of Coinbase’s sizable user base. 

On July 13, the network made its mainnet version “for builders” available, but the development team warned that it wasn’t yet ready for users.

Users of Base can currently form a decentralized autonomous organization, participate in a decentralized cryptocurrency exchange, send payments using web-based software, register a “.base” username, and bridge Ether ETH tickers down $1,847 to Base.