Base sets record high DEX volume day, surpassing $1B
Coinbase Ethereum Layer-2 Network Base decentralized exchanges (DEX) broke its own trading volume record in a 24-hour period, jumping approximately 25% compared to the previous day, surpassing the $1 billion mark.
On March 30, BASE recorded a trading volume of 1.21 billion dollars on DEX, which is an increase of 25% compared to the previous day's 959.63 million dollars.
Most trading activity occurred on UniSwap with 64.3% of the volume, Aerodrome Finance with 9.7%, and SharkSwap with 7.8%.
Daily Active Users (DAU) also saw a 12.4% increase, rising from 153,000 to 172,000. Over the past six weeks, there have been an average of 667,765 weekly active users.
There are speculations in the crypto community that the growing network could be the next hub for memecoins.
Crypto trader “Wizard of Soho” reminds his 97,000 X followers of “Beth Early Solana”, predicting that there will be “multi-billion dollar memecoins on Beth”.
Meanwhile, Base contributor Jesse Pollack asked his 73,200 followers how long until Base becomes “the largest Ethereum on-chain economy.” 49.4% responded in “3 months” and another 28.6% predicted “within 12 months”.
At the time of publication, there are currently no tokens on the network with a market capitalization of more than $1 billion.
Degen (DEGEN) and Brett (BRETT) are among the base memecoins, boasting a market cap of $709.9 million and $654.6 million, respectively, according to CoinGecko.
Just a week ago, on March 25, Cointelegraph reported that DEGEN's market cap stood at $143.4 million, a nearly five-fold increase in a seven-day period.
Related: Ethereum Dencun Upgrade Reduces Transaction Fees for L2s
On March 27, Cointelegraph reported that Coinbase will begin moving its customer and corporate USD Coin (USDC) stablecoin accounts to the base.
Coinbase Vice President Max Branzberg said in a post on social media that the move will allow the crypto exchange to “manage and secure customer funds with lower fees and faster settlement times.”
The change only affects Coinbase.com accounts – not Coinbase Wallet, as users are responsible for their own private keys.
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