Crypto:
30604
Bitcoin:
$62.525
% 4.69
BTC Dominance:
%53.6
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Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.525
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

Record Surge in Base Transactions and DEX Volumes in March

Dex

In a remarkable uptrend, transactions and trading volumes on the Coinbase-incubated layer two blockchain Base have reached unprecedented levels as March draws to a close.

According to data from a Dune Analytics dashboard by user @watermeloncrypto, Base witnessed a staggering 2.27 million transactions on March 29, marking an all-time high.

This surge follows a significant milestone earlier in the month when weekly transactions peaked at approximately 9.59 million on March 18, surpassing the previous record set in September last year.

Additionally, Base’s weekly network revenue hit an all-time high on the same date, further indicating the platform’s growing prominence.

Decentralized exchanges on Base also experienced record-breaking volumes, recording a total 24-hour volume of $657.19 million, according to data from Defi Llama.

March itself has proven to be a game-changer for DEX activity on Base, with a total trading volume of $6.67 billion, a substantial increase from the previous month’s $1.26 billion.

As reported by The Block earlier this week, Base’s total value locked surpassed $1 billion, coinciding with Coinbase’s announcement of plans to store more corporate and customer USDC balances on the L2.

Contributing to this surge in activity is the launch of mfercoin by Sartoshi, the founder of the cc0 nonfungible token collection mfers. Last night, mfercoin was airdropped to mfer NFT holders, further driving engagement.

Currently priced at $0.23 with a reported market capitalization of approximately $232 million according to CoinMarketCap, mfercoin has seen a remarkable increase in sales of mfer NFTs, up by over 6000% in the past 24 hours, pushing its floor price to 0.719 ETH on OpenSea.

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