The Base network which is backed by Coinbase has surpassed Arbitrum to become the leading layer-2 solution for Ethereum in the first few days of April, with 1.48 million new active addresses. According to growthepie data, this number just manages to eclipse Arbitrum One’s total of 1.43 million for the same period.
As stated by L2BEAT, Base has demonstrated outstanding performance in active addresses and has just topped $4 billion in value in total value locked. This has allowed Base to establish itself as one of the top layer-2 solutions, alongside OP Mainnet and Arbitrum One.
With 53.1 million transactions over the course of 30 days, the base has experienced an increase in transaction activity. This momentum has been partially fuelled by the popularity of the network’s memecoins.
According to CoinGecko, memecoins with market capitalizations of $720 million and $523 million, respectively, Brett (BRETT) and Degen (DEGEN) have attracted a lot of interest. Two of the most traded memecoins on the Base network are Toshi (TOSHI) and Normie (NORMIE).
Although Base has experienced a sharp increase in popularity within the Ethereum scaling ecosystem, Arbitrum One has continued to hold a slight lead in terms of active addresses over the last 30 days.
Base keeps reaffirming its status as a major force in decentralized finance and blockchain scalability with its strong user base, volume of transactions, and support for currencies inspired by memes.
