There has been a significant shift in the Layer 2 network landscape lately, with Coinbase-incubated Ethereum Layer 2 network Base rapidly gaining ground.
According to the latest findings by IntoTheBlock, Base now boasts nearly 40% more daily active addresses compared to the combined total of rival Layer 2 networks – Arbitrum and Optimism.
Base’s Increased Network Activity
The massive growth observed by the crypto analytic platform highlighted Base’s increasing dominance in the Layer 2 space, suggesting it is capturing a larger share of the Ethereum ecosystem’s off-chain transactions.
Base recorded approximately four million active addresses last week as per Dune Analytics data shared by Jesse Pollak, head of the project.
The surge in network activity coincided with Base’s ongoing “Onchain Summer” campaign, which promotes development on the platform. First introduced in 2023 to boost the adoption of its layer-2 network, the “Onchain Summer” event turned out to be a hit
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