Coinbase’s New Ethereum Layer-2 Briefly Surpasses Optimism and Arbitrum in Daily Transactions: On-Chain Data

Coinbase’s new Ethereum (ETH) layer-2 scaling solution briefly surpassed Optimism (OP) and Arbitrum (ARB) this week in terms of daily transactions.

According to data provided by each scaling solution’s respective block explorers, Base hit 617,330 transactions on August 13th, compared to 438,559 for Optimism and 544,575 for Arbitrum on the same day.

Both Optimism and Arbitrum have since surpassed Base in terms of daily transaction counts.

Base’s all-time high level of daily transactions actually occurred three days earlier on August 10th, when it hit 757,294.

The new layer-2 project officially launched earlier this month and is powered by Optimism. Coinbase has previously said it hopes Base helps onboard over a billion people into the crypto economy.

The exchange has noted there are no plans to launch a network token associated with Base. The project is designed to be compatible with Ethereum, Ethereum layer-2s and alternative layer-1 blockchains.

Optimism’s native token, OP, is trading at $1.38 at time of writing. The 42nd-ranked crypto asset by market cap is down nearly 1.5% in the past 24 hours and more than 13% in the past seven days.

Arbitrum’s native token, ARB, is trading around $0.987 at time of writing. The 39th-ranked crypto asset by market cap is down nearly 5.75% in the past day and nearly 18% in the past week.

 

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