Layer 2 supported by Coinbase, Base, has seen a new wave of excitement in early April, surpassing Arbitrum in terms of active addresses.
A remarkable rise for Base
Over the first nine days of April, Base recorded over 1.48 million new active addresses, narrowly edging out Arbitrum One which has 1.43 million active addresses.
This performance positions Base at the top of Ethereum’s Layer 2 networks in terms of active addresses for the month. Ethereum scaling solutions, zkSync Era and the Optimism network, complete the top four with 1.21 million and 650,000 active addresses respectively.
Despite these impressive figures for April, Arbitrum One still maintains a slight lead over Base in terms of active addresses over the last 30 days, with 3.84 million compared to 3.76 million for Base.
The TVL of Base increases with the memecoins frenzy
Base has recently surpassed the $4 billion mark in terms of total locked value on the protocol, just behind Arbitrum One and the Optimism network. Moreover, Base has the highest number of transactions in 30 days with 53.1 million, well ahead of Arbitrum’s 41.2 million and Ethereum’s 37.9 million for the same period.
The increase in active addresses on Base is partly fueled by the recent memecoins frenzy on the Coinbase-backed network.
