Base DEX Users Reach Record 267,000

The number of DEX users on Base has surged to an all-time high of 267,000.

Recently, the number of Base DEX trading users has continued to grow, reaching 267k on June 17, a record high. Base DEX trading users have now surpassed BNB Chain and is second only to Solana. This is related to the more active Meme market on the Base chain.…

— Wu Blockchain (@WuBlockchain) June 18, 2024

With this figure, Coinbase’s L2 solution has outpaced BNB and is second only to Solana.

Analyst Colin Wu attributed the positive trend to the hype surrounding meme tokens.

Daily trading volume reached $394.3 million, which is half of the record $790.4 million on March 30, 2024.

Uniswap accounts for 79.2% of DEX turnover and nearly two-thirds of active users.

By TVL, Coinbase’s L2 solution ranks seventh with $1.58 billion.

Earlier, in the Ethereum L2 network segment, Base ($7.2 billion) overtook OP Mainnet ($6.51 billion) for second place. Both Ethereum-tied and native assets are considered in the calculation.

Previously, VanEck predicted that the market capitalization of L2 tokens would reach $1 trillion by 2030. 

In May, Ethereum co-founder Vitalik Buterin called for a unified interoperability solution for second-layer solutions.