Base, a Layer 2 solution affiliated with Coinbase, has experienced a significant surge in activity, marking a 400% increase in Daily Active Addresses to 432k in the past month. This growth is attributed to its rising daily transactions, despite Base not having its own token and Coinbase stating no plans to create one. Fees on Base are paid in ETH, correlating with the increase in ETH's price. Additionally, Base has seen $55 million in USDC bridged to its platform since March 1st, with $1.58 billion USDC currently on Base, 92% of which was minted in the last 30 days. This financial influx has turned Base into a substantial revenue stream for Coinbase, with an annualized revenue of approximately ~265 m $. The platform's success is further highlighted by its comparison to other leading Ethereum Layer 2 solutions, where Base's activity surpasses the combined activity of its two main competitors. This growth is part of a broader trend in the cryptocurrency sector, with Bitcoin's value increasing by 69% to $71k and ETF inflows exceeding $12 billion in Q1. Polkadot also reached a new all-time high with over 600,000 active addresses, showcasing the expanding interest and investment in blockchain technologies.
π @base's ecosystem hits a new high with ~8.6k daily deployments, signaling a #DeFi renaissance! Our upcoming Yield Aggregator is poised to capitalize on this wave, ready to transform your assets into smarter, more efficient earnings. Stay tuned! πΎπΉ #Yield #Base
Coinbase generated over $20M in revenue from Base last month π https://t.co/sJMnDne96Z
Coinbase revenue from Base continues to parabolic, ~$33M of revenue since the start of 2024 https://t.co/pLYmpybcDr
.@kunalgoel's Coinbase estimates are back! With the bitcoin spot ETF approval and fresh all-time highs, trading volume doubled in Q1. Our estimates: - Net revenue ~ $1.5B, β¬οΈ 65% - Transaction revenue ~ $1B, β¬οΈ 89% - Non-trading revenue ~ β¬οΈ 12% π https://t.co/lykA2GKDFI https://t.co/uKAEUCULyA
the @Base playbook: -on-chain apps -instantaneous on/off ramp via cex -smart wallet onboarding (soon) -friendtech/farcaster to dominate the socialfi scene -easily bridge ERC-20s to base with base migrate -grow usdc liquidity on base through coinbase & you thought it was a meme https://t.co/udemCM4awT
The current SOL congestion, with 75% transaction failure rate, will make people want to shift to Base. Base offers exposure to $ETH and is both fast and cheaper. Be based π΅ Kresus updates coming soon π https://t.co/1ZJ1KcpFB7
The @MoonwellDeFi ecosystem has grown to a 275M total market size, up by ~100M in just a month! How did this happen? - Became @Base'd from Day 1 ππ΅π - Support for ETH LSTs like #cbETH, #wstETH and #rETH - USDC Anywhere: Simple, secure value transfer across the top networks https://t.co/jkYCzlvOJj
Base will become a major playground and hub for both retail, newcomers and permanent on-chain degens alike. The brand power of @coinbase and passionate builders like @jessepollak will help lift the motherchain of convenience + smart contracts to the next level. All aboard ETH πͺ
$1.58B USDC on @base, with 92% minted in the past 30 days https://t.co/oqLuAZROOi
Base is beating the other two leading Eth L2's combined now. I continue to believe $coin is going to be one of the best plays this cycle. πͺ https://t.co/5nTToHIzw2
Cumulative USDC bridged to @base $55,000,000 USDC has been bridged to Base since March 1st. ππ Base adoption continues to grow. Very bullish Base. Data: @Amberdataio https://t.co/lZlwoHEDpV
@base Cumulative USDC bridged to Base. $55,000,000 USDC has been bridged to Base since March 1st. ππ Base adoption continues to grow. Very bullish Base. Data: @Amberdataio https://t.co/xMcnxgqbS8
$BASE is turning into a big additional stream of revenue for Coinbase. With an annualized revenue already at ~265 m $ Volume is just ramping up on the base chain, it is highly likely that the this figure will heavily increase. Great chart by @tokenterminal $COIN $BTC $ETH https://t.co/E6gy6bCfLQ
π @Polkadot hits a new all-time high with over 600,000 active addresses! Over 41%, or 248,000 of the 605,000 addresses, are attributed to the cross-chain smart contract platform Moonbeam The number of unique accounts with non-zero balances surpassed 5.59m. https://t.co/NLMG1TON3K
State of Bitcoin Q1 Key Update: Bitcoin programmability continued to evolve through Ordinals and layers QoQ Metrics π - BTC β¬οΈ 69% to $71k - ETF inflows exceeded $12b - TVL on layers β¬οΈ 127% - Miner revenue (USD) β¬οΈ 34% Read the Q1 report for free π https://t.co/Dc9pzioNyX https://t.co/E40YRPQExI
Daily transactions on Base are exploding! Important to note: Base doesn't have an own token, and the team (Coinbase) said they don't have the intention to create it Fees on Base are paid for in $ETH. The price of $ETH going up might have to do with base activity going up hard https://t.co/wJpjsprxM4
With almost a 400% increase in the past month, @base has now secured its place as the Layer 2 with the most Daily Active Addresses at 432k. https://t.co/wKUJWKyBkr