Base exceeds 6M daily transactions, beats Arbitrum — What next?

• Base scored a house run after dethroning Arbitrum to safe the highest spot amongst Ethereum Layer 2s
• A number of ATHs have contributed to the community’s main place

Base is operating a particular marketing campaign to grow to be the main Ethereum Layer 2 community. And it appears prefer it has now achieved that aim. This 12 months, the community has seen important development and value, culminating in its most up-to-date milestone.

The Base community’s each day variety of transactions has been steadily growing since March 2024. Accordingly, Ethereum Layer 2 just lately crossed the 6 million each day transactions mark.

What’s extra, it has maintained this common determine this week – the very best degree thus far this 12 months.

Supply: DeFiLlama

That is the primary time that the community has exceeded 6 million transactions per day.

Therefore the query: how has this degree of community adoption affected different facets of the community that assist development?

Base turns into main Ethereum Layer 2

The primary main result’s that Base has been propelled to the highest of the Ethereum Layer 2 rankings. In truth, in response to Coingeckoit just lately surpassed Arbitrum [ARB] to grow to be the main Layer 2 when it comes to quantity.

Talking of quantity, Base has clocked over $938 million in each day quantity within the final 24 hours. Arbitrum, which slipped to second place, had lower than half that quantity at $462.7 million.

Base additionally overtook Arbitrum when it comes to TVL with $2.47 million, in comparison with Arbitrum’s $2.41 million on the time of writing.

Right here additionally it is value noting that the TVL determine has risen to a brand new all-time excessive within the final 24 hours.

Supply: DeFiLlama

TVL’s new milestone confirmed a stable degree of confidence amongst traders. The community has additionally maintained respectable liquidity ranges, judging by its equally spectacular secure market capitalization development.

The bottom market capitalization of stablecoins peaked at $3.77 billion on October 16. Nevertheless, on the time of writing, it had fallen barely to $3.68 billion.

Supply: DeFiLlama

These report highs within the Base ecosystem have been essential to its dominance within the Ethereum ecosystem.

Additionally, it achieved this feat with no native token, which as you may think about is more likely to skyrocket due to natural demand. The venture has not but revealed any plans to launch a local token, however that might be a risk sooner or later.

This efficiency was resulting from a mix of things, together with a robust neighborhood and a extra enticing developer ecosystem. Probably the most distinguished components which have contributed to its attractiveness are effectivity and low prices.