- Base crypto briefly led with over 30% of daily stablecoin transactions.
- Also, it has seen strong growth in TVL and overall transactions.
As a seasoned crypto investor with a knack for spotting potential, I can confidently say that Base crypto is one to watch. The recent surge in stablecoin transactions and overall activity has caught my attention, particularly since it outperformed established platforms like Solana, Ethereum, and Tron.
Lately, the usage of Base cryptocurrency has experienced a notable increase, reaching important achievements in various crucial measurements throughout October. The latest figures indicate that transactions involving Base’s stablecoins have hit unprecedented highs, outpacing other significant platforms in terms of volume. This underscores Base’s expanding impact and influence in the industry.
Base crypto stablecoin volume reaches new heights
Based on information from Artemis, it was found that Base Crypto briefly processed more daily stablecoin transactions than well-known platforms such as Solana, Ethereum, and Tron, marking a significant milestone for the relatively new platform.
As a researcher, I’ve found that more than one-third of all stablecoin transactions take place on the Base platform, making it the busiest in terms of transaction volume at certain points.
According to recent findings from DefiLlama, the use of stablecoins on Base peaked at a record-breaking $3.77 billion in mid-October. At this time, the current data indicates that the volume is still substantial, hovering around $3.75 billion.
Base crypto sets record in transaction count
Besides setting a new benchmark for stablecoin transaction volume among all blockchain networks, Base Crypto additionally experienced an unprecedented number of transactions.
According to DefiLlama’s data, Base experienced its highest daily transaction volume ever on October 26th, handling approximately 6.52 million transactions within that day.
The rise in daily transactions during October not only continued an existing trend but also made it one of the most active months on record for Base so far.
As a crypto investor, I’ve noticed an impressive surge in the total value locked (TVL) within the Base platform. Although it has dipped slightly from its all-time high of $2.54 billion on October 21st, the TVL currently hovers around $2.5 billion – a level that ranks among the highest in the platform’s history.
As per L2 Beats’ report, Arbitrum is presently ahead as the top Layer 2 platform in terms of Total Value Locked (TVL), with Base closely following in the second position.
Base crypto’s position among top platforms
Although Base has made significant strides, it continues to lag behind larger networks such as Solana and Ethereum in terms of overall transaction volume. To date this year, Solana has outpaced the competition with over $8.6 trillion worth of stablecoin transactions, while Ethereum follows closely behind with approximately $6.1 trillion.
Though Base cryptocurrency’s current expansion is noteworthy, it still needs to make progress to match the standing of well-established networks in competition.
The surge in transactions and Total Value Locked (TVL) indicates that Base Crypto could be a significant player in the growing cryptocurrency landscape. With its consistent record-breaking performance, the platform demonstrates potential as a competitive force, notably within the stablecoin transactions and Layer 2 market sectors.
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2024-10-29 06:15