Coinbase’s Layer-2 Solution Attracts Swift Migration of Over $160 Million in Ethereum and Crypto Assets
Coinbase’s freshly launched layer-2 scaling solution, Base, has attracted an impressive influx of crypto assets. Including Ethereum (ETH) and various others, within hours of its introduction.
Recent data from Dune Analytics exposes a swift movement of approximately $163 million onto the platform. Which is backed by the Optimism (OP) blockchain-scaling solution. Notably, the figures encompass 72,724 ETH valued at $135.8 million, $19.2 million in USD Coin (USDC), $5.7 million in Dai (DAI), and $3.1 million in Coinbase Wrapped Staked Ethereum (cbETH). Interestingly, Base’s daily active user count surged to a record high of 100,983 merely a day after its universal accessibility announcement by Coinbase. Despite originally peaking at 607,000 daily transactions in July upon opening to blockchain developers. The public launch day witnessed an impressive 380,000 daily transactions.
To mark the notable public debut of the layer-2 scaling solution. Coinbase is hosting an innovative on-chain summer festival, dubbed “Onchain Summer.” The multi-week celebration encompasses a diverse array of on-chain art, culture, music, gaming, and more, presented through daily mints and narratives in collaboration with prominent global builders, brands, creators, and artists. Amid its ambitious goal of onboarding over a billion users to the cryptocurrency realm. Coinbase clarified that it has no intentions of introducing a token associated with Base.
Clever Robot News Desk 12th August 2023
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