On March 29, the layer two blockchain Base, which is incubated by Coinbase, experienced a significant milestone with a record-breaking 2.27 million transactions. This surge in daily activity can be attributed to the weekly transaction count reaching an all-time high of over 9.59 million on March 18. The previous weekly record was set at 9.3 million in September of last year.
In addition to the increase in transactions, Base’s weekly network revenue also reached a new record high on March 18. This growth is reflected in the decentralized exchanges on Base, which achieved record-high levels with a total 24-hour volume of $657.19 million.
March has proven to be a fruitful month for Base’s DEX activity. The trading volume on Base DEXs has skyrocketed to $6.67 billion, a substantial increase from $1.26 billion the previous month. Furthermore, the total value locked into Base has surpassed $1 billion, coinciding with Coinbase’s announcement of adding additional corporate and client USDC holdings to the L2.
Adding to the excitement on Base is the recent launch of mfercoin by Sartoshi, the creator of the cc0 non-fungible token collection mfers. Owners of mfer NFTs were airdropped the mfercoin token, igniting a surge in sales which saw a 600% increase in the last 24 hours. As a result, the floor price of mfer NFTs on OpenSea soared to 0.719 ETH.
In other crypto news, Custodia Bank’s bid for a master account was rejected by a U.S. court. This decision has significant implications for the custody of cryptocurrencies.
