Base cryptocurrency has experienced a recent surge in user activity, achieving significant milestones in various key metrics throughout October. Recent data indicates that stablecoin transactions on Base have reached unparalleled levels, surpassing competitors in terms of volume and consolidating its expanding influence.
Unprecedented Growth in Base Crypto’s Stablecoin Volume
Recent statistics from Artemis reveal that Base crypto briefly held the highest daily stablecoin transaction volume, outperforming well-established platforms such as Solana, Ethereum, and Tron.
With a share exceeding 30% of the total stablecoin transactions, Base stood out as the leader in transaction volume for a period.
An evaluation of DefiLlama data confirms that Base’s stablecoin volume reached a peak of around $3.77 billion in mid-October, remaining strong at approximately $3.75 billion based on the latest figures.
Record-Breaking Transaction Count for Base Crypto
Base crypto not only achieved the highest stablecoin transaction volume among blockchain networks but also set a record in terms of transaction count.
Data from DefiLlama shows that on 26th October, Base reached an all-time high of 6.52 million transactions processed in a single day.
This surge follows a pattern of increased daily transactions throughout October, positioning the month as one of the most active periods in Base’s history.
Furthermore, Base’s total value locked (TVL) has exhibited a consistent upward trajectory. Despite a slight decrease from its peak of $2.54 billion on 21st October, the TVL remains close to $2.5 billion, marking one of the platform’s highest levels to date.
Based on L2 Beats data, Base currently holds the second-largest TVL among Layer 2 networks, with Arbitrum leading in this category.
Positioning of Base Crypto Among Leading Platforms
While these accomplishments are noteworthy, Base still lags behind larger platforms like Solana and Ethereum in total transaction volume. Data for the year-to-date period reveals Solana leading with over $8.6 trillion in stablecoin transactions, followed by Ethereum with $6.1 trillion.
Despite its recent growth, Base crypto will need to make further strides to rival these established networks.
The surge in transaction volume and TVL underlines Base crypto’s potential in the expanding cryptocurrency landscape. As it continues to set new records, the platform emerges as a strong contender, especially within the stablecoin transaction and Layer 2 ecosystem.