BASE sets a record by surpassing the $1 Billion Mark in DEX Trading Volume

The base is an Ethereum Layer 2 (L2) chain that offers a safe, low-cost, developer-friendly way to build on-chain. The base is an L2 built on OP Stack in collaboration with Optimism.?

Main features of Base

1.?Secured by Ethereum: Base is built with the security and scalability you need to power your decentralized apps. It leverages the underlying security of Ethereum, along with Coinbase’s best practices, to enable you to confidently onramp into Base from Coinbase, Ethereum L1, and other interoperable chains.

2.?Empowered by Coinbase: Base makes it easy to build decentralized apps with access to Coinbase’s products, users, and tools. Seamless Coinbase product integrations, easy fiat onramps, and powerful acquisition tools enable developers to serve the 110m verified users and $80B+ assets in the Coinbase ecosystem.

3.?Small fees: Base offers full EVM compatibility at a fraction of the cost and is committed to pushing forward the developer platform.

4.?Open source: Base aims to be decentralized, permissionless, and open to anyone with the vision of creating a standard, modular, rollup agnostic Superchain powered by Optimism.

Trading Activity

Most of the trading activity took place on Uniswap, which accounted for 64.3% of the volume, followed by Aerodrome Finance at 9.7% and SharkSwap at 7.8%. Coinbase Ethereum layer-2 network Base has shattered its trading volume record within a 24-hour on decentralized exchanges (DEX), jumping approximately 25% compared to the previous day and surpassing the $1 billion mark.

BASE Records $1.21 billion in DEX Trading Volume

On March 30, Base recorded $1.21 billion in DEX trading volume, up 25% from the previous day’s $959.63 million, according to Dune data. Most of the trading activity occurred on Uniswap, which accounted for 64.3% of the volume, followed by Aerodrome Finance at 9.7% and SharkSwap at 7.8%.

Daily Active Users

Daily active users (DAU) also saw a spike of around 12.4%, climbing from 153,000 to 172,000. Over the past six weeks, there has been an average of 667,765 weekly active users.

Next Meme Coin Hub

There is speculation within the crypto community that the growing network could become the next hub for meme coins. Crypto trader Wizard of SoHo told his 97,000 X followers that Base reminds him of an “early Solana,” predicting “several billion dollar meme coins on Base.”

Meanwhile, Base contributor Jesse Pollak polled his 73,200 followers, asking how long until Base becomes the “largest non-Ethereum on-chain economy.” Of the respondents, 49.4% responded with “3 months,” while another 28.6% predicted “within 12 months.”

BASE Meme coins

There are currently no tokens on the network with a market capitalization at or above $1 billion. Degen (DEGEN) and Brett (BRETT) are among the largest Base meme coins, boasting market caps of $709.9 million and $654.6 million, respectively, according to CoinGecko. Only a week prior, on March 25, Cointelegraph noted that DEGEN’s market cap stood at $143.4 million, marking an almost five-fold increase in seven days.

Final Thoughts

In short, Base, an Ethereum Layer 2 chain, is rapidly gaining traction with its secure, low-cost platform for decentralized app development. Its recent record-breaking trading volume and growing user base indicate a promising future, with speculation suggesting it could become a hub for meme coins.