When Basenames launches, Base hits 1M daily active addresses.
The Coinbase Layer-2 network Base has added 1 million daily active addresses as the number of new “nicknames” registered on the blockchain continues to increase exponentially.
Base reached a record 1.05 million daily active addresses on August 24 and has fallen slightly to 1.03 million daily active users since publication.
This figure represents a 60% increase in the number of daily active contacts since the beginning of August.
Base added 1 million daily active users on August 24. Source: Dune Analysis
Following the recent increase in users, Base now has more daily active addresses combined with the next several protocols.
In comparison, Arbitrum had the second highest number of daily active addresses with 394,000, while Linea reported 198,000 and Mantle 69,000, according to data from Ethereum L2 data platform GrowThePie.
More than 200,000 foundation names have been stolen
Following the August 21st launch of the “Base Name” service on the blockchain network, a record of new daily active addresses has arrived.
Base.eth founder Jesse Polk said that more than 200,000 new Base.eth usernames were created in the first week the new naming service went live.
Source: Jesse Pollack
Powered by the Ethereum name service platform, Basenames allows network users to purchase a name tied to their Base Wallet address, enabling more accessible communication between users on the network.
Related: Ethereum DApp Volumes Fall 33% – Is More ETH Price Weakness Ahead?
In comparison, there are 1.96 million active ENS names at the time of publication. It took almost two years for ENS to reach 200,000 registered addresses.
Basic network marketing size pumps
While Basenames was being launched, the Base network saw a boom in financial activity.
According to Defillama data, the total transaction volume on the Base network has increased over the past five months.
Base now accounts for 9.25% of the total DEX volume in Ethereum, up from 2.81% in March.
Base now accounts for 9.25% of the total DEX volume on the Ethereum network. Source: Defillama
The Layer-2 blockchain hit 4 million weekly active addresses on August 20 amid the network's “Onchain Summer” campaign.
Base has launched an “Onchain Summer” event in 2023 to encourage adoption of the Layer-2 network.
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