Record Number of DEX Users on Base Reaches 267,000

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The number of DEX users on Base has surged to an all-time high of 267,000. With this achievement, Coinbase’s L2 solution has outpaced BNB Chain and is now second only to Solana in terms of users.

On June 17, the number of users trading on Base DEX reached a record 267,000, highlighting significant growth. This surge is attributed to the increased activity in the Meme token market on the Base chain, as reported by Wu Blockchain on June 18, 2024.

Analyst Colin Wu linked this positive trend to the hype surrounding meme tokens.

The daily trading volume reached $394.3 million, which is half of the record $790.4 million set on March 30, 2024. Uniswap is a significant contributor, accounting for 79.2% of DEX turnover and nearly two-thirds of active users.

In terms of Total Value Locked (TVL), Coinbase’s L2 solution ranks seventh with $1.58 billion.

Previously, Base had overtaken OP Mainnet to secure the second spot in the Ethereum L2 segment, boasting $7.2 billion compared to OP Mainnet’s $6.51 billion. This ranking includes both Ethereum-linked and native assets.

VanEck has forecasted that the market capitalization of L2 tokens could grow to $1 trillion by 2030.

In May, Ethereum co-founder Vitalik Buterin emphasized the need for a unified interoperability solution for Layer 2 networks.

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