The Coinbase-backed Ethereum layer-2 network Base is experiencing a surge in activity as March comes to a close. On March 29, a record-high of 2.27 million transactions occurred on Base, as reported by Dune Analytics.
This surge follows another record set on March 18, with weekly transactions reaching approximately 9.59 million, surpassing the previous high of 9.3 million in September last year. Additionally, Base’s weekly network revenue hit an all-time high on the same day.
Decentralized exchanges (DEXs) on Base also saw record-high volumes, reaching $676.49 million in a 24-hour period. March’s DEX activity on Base totaled $6.67 billion, significantly higher than the previous month’s $1.26 billion.
Coinbase’s announcement of plans to store more corporate and customer USDC balances on Base’s L2 coincided with Base’s total value locked surpassing $1 billion.
Furthermore, the launch of mfercoin by Sartoshi, founder of cc0 nonfungible token collection mfers, contributed to Base’s activity. mfercoin was airdropped to mfer NFT holders, leading to a 6000% increase in NFT sales and a rise in mfer NFT floor price on OpenSea to 0.719 ETH.
Base’s surge in activity, fueled by record transactions and DEX volumes, signals strong investor confidence, boosted by strategic initiatives like USDC storage and mfercoin launch, driving NFT sales and market dynamics.
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