The Base network is approaching a new milestone, according to IntoTheBlock, with 1.4 million daily transactions. Base previously set its record on August 21, 2023, with 1.42 million transactions.
Despite a drop in ETH pricing, Base, a Coinbase-incubated Ethereum-based layer-two platform, is witnessing a big increase in transaction volume. This behavior is similar to the August surge, which was followed by a drop before ramping up again in September.
Base runs on the open-source OP Stack, giving a low-cost, secure, and developer-friendly approach to creating on-chain. The project will not issue new coins because it relies on existing ETH tokens.
Despite Ethereum's price volatility, the Base network is gaining popularity and performing well. This expansion validates Base's feasibility as a scalable, low-cost platform for developers creating blockchain solutions.