Coinbase's layer-2 scaling solution network has attained new feats in transaction statistics that saw it outperform competitors like Artibitrum and Ethereum.
The spike in Base's metrics has been attributed to Coinbase's Vice President announcement around late March, revealing the exchange's intention to move its over $200 million USDC holdings to its Base network.
Consequently, Coinbase users (both corporate and retail) have been stockpiling their USDC balances in the community, resulting in the recent developments.
Base Transaction Statistics Relative To Other Networks
According to L2Beat data, Base currently boasts a 50.5 million 30-day transaction count, outperforming Arbitrum One and Ethereum, currently at 40.17 million and 37.93 million, respectively. However, Arbitrum Nova still ranks highest among all four networks, with a 30-day transaction count of 74.52 million.
Other relevant Base statistics revealed the layer-2 scaling solution's total volume locked (TVL) to be $4.41 billion, reflecting a 20.93% upswing from values obtained in the past seven days. Its Daily Transaction Per Second (Daily TPS) is 36.05, mirroring a 40.28% improvement from its previous week's performance.
The above statistics have placed the network in a pole position to become a leading layer-2 scaling solution. However, it all boils down to maintaining current status.
Base Proving To Be Dependable Amidst Challenges
A few weeks ago, Base was hit with network congestion that threatened to undermine the network's integrity. However, the network has continued to expand, implying that its users are still enthusiastic about the services the L2 platform offers.
Currently, there are still speculations about getting a Base token. In fact, in an interview last year, Coinbase's legal Chief, Grewa, once hinted at the possibility of the offering, citing a focus on technological advancement then.
Considering how the Base Network seems to be developing rapidly, there are chances of attaining considerable technological target set by the team in charge of the Base Network, which implies that the probability of a Base token rolling out soon is not far-fetched.
