{"id":336869,"date":"2023-08-19T14:00:49","date_gmt":"2023-08-19T08:30:49","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=336869"},"modified":"2023-08-19T12:24:38","modified_gmt":"2023-08-19T06:54:38","slug":"how-newcomer-base-has-rattled-ethereum-layer-2-leaders","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/how-newcomer-base-has-rattled-ethereum-layer-2-leaders\/","title":{"rendered":"How newcomer Base has rattled Ethereum Layer 2 leaders"},"content":{"rendered":"<ul>\n<li><em>Increased L2 adoption has led to a jump in transaction count across <span style=\"font-weight: 400;\">Ethereum Mainnet and major optimistic rollups.<\/span><\/em><\/li>\n<li><em>Due to the launch of friend.tech, Base outperformed Optimism and Arbitrum last week.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The transaction numbers between Ethereum [ETH] Mainnet and major optimistic rollups recently hit their second-highest value ever, IntoTheBlock noted in an 18 August <\/span><span style=\"font-weight: 400;\">tweet<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Transaction numbers between Ethereum Mainnet &amp; major optimistic rollups just hit their 2nd highest value ever!  The total number of transactions is now roughly 3x higher than during the bull market peak <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\">#ETH<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/L2?src=hash&amp;ref_src=twsrc%5Etfw\">#L2<\/a> <a href=\"https:\/\/t.co\/tV5e6ZIftJ\">pic.twitter.com\/tV5e6ZIftJ<\/a><\/p>\n<p>&mdash; Sentora (@SentoraHQ) <a href=\"https:\/\/twitter.com\/SentoraHQ\/status\/1692582268382986656?ref_src=twsrc%5Etfw\">August 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">According to the on-chain data provider, the total number of transactions between Ethereum, Optimism [OP], Arbitrum [ARB], and newcomer Base surged to approximately three times the level observed \u201cduring the bull market peak.\u201d<\/span><\/p>\n<h4><b>Base rules over Optimism and Arbitrum<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Less than a month old, increased activity on Ethereum Layer 2 (L2) network Base in the last week pushed its average daily transactions count above that of Optimism and Arbitrum, data from <\/span><a href=\"https:\/\/www.theblock.co\/data\/scaling-solutions\/optimistic-rollups\/transaction-count-daily-7dma\"><span style=\"font-weight: 400;\">TheBlock<\/span><\/a><span style=\"font-weight: 400;\"> data dashboard revealed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On-chain analysis of daily transaction counts across the three networks over a 7-day moving average showed that Base&#8217;s average daily transactions on 15 August totaled 557,140. Optimism trailed behind with 597,000, while Arbitrum came in third place with a count of 576,000.<\/span><\/p>\n<figure id=\"attachment_336882\" aria-describedby=\"caption-attachment-336882\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45.png\"><img decoding=\"async\" class=\"size-full wp-image-336882\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45.png\" alt=\"\" width=\"2560\" height=\"806\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45-300x94.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45-1024x322.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45-768x242.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45-1536x484.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.08.45-2048x645.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-336882\" class=\"wp-caption-text\">Source: TheBlock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In terms of new daily unique addresses, Base outperformed Optimism and Arbitrum within the first six days of its launch. However, with its hype plummeting, this metric has begun a descent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of 17 August, Base saw the creation of 24,000 new addresses, while Optimism and Arbitrum recorded 32,000 and 29,000, respectively.\u00a0<\/span><\/p>\n<figure id=\"attachment_336883\" aria-describedby=\"caption-attachment-336883\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21.png\"><img decoding=\"async\" class=\"size-full wp-image-336883\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21.png\" alt=\"\" width=\"2560\" height=\"806\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21-300x94.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21-1024x322.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21-768x242.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21-1536x484.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.09.21-2048x645.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-336883\" class=\"wp-caption-text\">Source: TheBlock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The surge in Base\u2019s usage last week was due to the launch of friend.tech on the L2 network. friend.tech lets users buy and sell tokenized shares of crypto personalities. According to data from <\/span><a href=\"https:\/\/dune.com\/msilb7\/friendtech-on-base-activity\"><span style=\"font-weight: 400;\">Dune Analytics<\/span><\/a><span style=\"font-weight: 400;\">, friend.tech has processed over 450,000 transactions from 35,000 unique users since it launched.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the cumulative count of users on Base stood at 755,471, while the total count of transactions completed so far rested above 10 million.\u00a0<\/span><\/p>\n<figure id=\"attachment_336886\" aria-describedby=\"caption-attachment-336886\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19.png\"><img decoding=\"async\" class=\"size-full wp-image-336886\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19.png\" alt=\"\" width=\"2560\" height=\"692\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19-300x81.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19-1024x277.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19-768x208.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19-1536x415.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-07.10.19-2048x553.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-336886\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Regarding the total value of assets sent to the network, data from Dune Analytics showed that $236.16 million has been bridged so far. Since its launch, $144 million worth of Ether [ETH] tokens have been bridged to Base. This represents 61% of all assets on the L2 network.<\/span><\/p>\n<h4><b>The L2 race continues<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The adoption of L2 scaling solutions has increased significantly this year, and Optimism and Arbitrum have seen a significant jump in network activity as a result.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of 18 August, Optimism had 116,000 active addresses and 592,000 transactions, while\u00a0 Arbitrum recorded 135,000 active addresses and 595,000 transactions.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The war is on between @optimismFND and <a href=\"https:\/\/twitter.com\/arbitrum?ref_src=twsrc%5Etfw\">@arbitrum<\/a> \ud83d\udd25<\/p>\n<p>Over the past 6 months, Optimism&#39;s active addresses and daily transactions have been steadily increasing<\/p>\n<p>Yesterday Optimism hit 116k active addresses and 592k txs, compared to Arbitrum&#39;s 135k active addresses and 595k txs <a href=\"https:\/\/t.co\/yHU8cyQF6X\">pic.twitter.com\/yHU8cyQF6X<\/a><\/p>\n<p>&mdash; Nansen \ud83e\udded (@nansen_ai) <a href=\"https:\/\/twitter.com\/nansen_ai\/status\/1692121544359915757?ref_src=twsrc%5Etfw\">August 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">In terms of total value locked (TVL), Arbitrum\u2019s $6 billion represents 56% of all assets locked within the L2 ecosystem. In the second place, Optimism holds $3 billion in TVL, data from L2Beat showed.<\/span><\/p>\n<figure id=\"attachment_336877\" aria-describedby=\"caption-attachment-336877\" style=\"width: 2478px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24.png\"><img decoding=\"async\" class=\"wp-image-336877 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24.png\" alt=\"\" width=\"2478\" height=\"898\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24.png 2478w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24-300x109.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24-1024x371.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24-768x278.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24-1536x557.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-19-at-06.59.24-2048x742.png 2048w\" sizes=\"(max-width: 2478px) 100vw, 2478px\" \/><\/a><figcaption id=\"caption-attachment-336877\" class=\"wp-caption-text\">Source: L2Beat<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Within a week of its launch, Coinbase&#8217;s Ethereum Layer 2 network Base outperformed leading Optimistic Rollup networks Optimism and Arbitrum in terms of network activity. <\/p>\n","protected":false},"author":64,"featured_media":336887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-336869","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - 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