Base Network Achieves Record 11.4 Million Transactions in One Day
Base, the Ethereum-based Layer-2 blockchain network by crypto exchange Coinbase, achieved a historic milestone with 11.447 million transactions processed in one day. This surge was fueled by the viral success of meme coins like Clanker and Virtuals Protocol, surpassing the combined transaction volume of all other Ethereum Layer-2 networks, according to data from Basescan.
The decentralized exchange (DEX) on Base recorded a monthly transaction volume of approximately $42 billion in November. Jesse Pollak, creator of Base, addressed centralization concerns, highlighting meme coins such as BALD that increased network activity. In an interview at Devcon in Bangkok, Pollak remarked:
“BALD caught us all by surprise. You know, this was before the public launch of Base. It was when it was just open for developers. I remember waking up on Saturday morning and being like, what is going on? It was not in our plan, and it happened.”
Despite facing criticism for delisting Wrapped Bitcoin (wBTC) while promoting its competitor cbBTC, Pollak dismissed these concerns, using BALD as an example of Base's openness. He stated, “Bald showed that Base wasn’t going to be this place that was fully manicured, curated, controlled, and centralized.”
Base TVL Crosses $10 Billion, TPS Hits New Highs
Base has become the fastest-growing Ethereum Layer 2, with its total value locked (TVL) recently exceeding $10 billion, according to L2BEATS. It is now the second-largest Ethereum Layer 2 by TVL, totaling $18.3 billion, surpassing OP Mainnet and only trailing Arbitrum One.
Photo: L2BEAT
Base reached a record 106.26 transactions per second (TPS), a nearly 28% increase from November 23, following a modest average of 4 TPS in January, as noted by Pollak. This rapid rise positions Base as a strong competitor against Solana, one of the fastest blockchains. The network also surpassed 1 billion total transactions, largely driven by the ongoing memecoin trend during this bull cycle.