The dramatic increase in trading volume and TVL emphasizes the growing interest and adoption of the underlying protocol. The network is now the Ethereum 2 layer 6 scaling solution.
Daily trading volume on the core network increased by 51% and reached a new high %
The 1-day trading volume in the underlying network increased by 51% and reached a new high|Coinspeaker.
The dramatic increase in trading volume and TVL emphasizes the growing interest and adoption of the underlying protocol. The network is now the #Ethereum Level 6 scaling solution for Ethereum 2.
Base, a Level 2 scaling solution based on the Ethereum ecosystem, is experiencing massive growth and activity on the platform has reached new heights. According to decentralized financial aggregator (DeFi) DefiLlama, daily activity on Base has increased by 51%, reaching 24 million yuan in 35,600 hours.
The Total Value Lock (TVL) protocol has not been left behind either. The Coinbase-backed network reached a new milestone, with TVL totaling $77,065 million at the time of publication. Last year, over a 12-month period, its TVL was around $773,500 million.
Since the network entered the #cryptocurrency market in 2023/8, its growth has been steady. On Wednesday, the network recorded about 1.65 million daily transactions.
On the same day, analytics platform Dune reported that about 130,000 new users had registered on the protocol.
Earlier this month, the core network saw a significant increase in activity after Dencun was introduced on 3/14.2 days after the update, Dune reported that 666,866 new users had signed up for the protocol. That's a 3200% increase over the average in the days leading up to Dencun.
In addition, more than 200 million transactions were recorded on the network. Before the Dencun update, there were only about 440,000 transactions per day. After the Ethereum update, the 1-day trading limit initially exceeded 1 million in 110 days before reaching 2,064,920.
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