Coinbase New Ethereum Layer-2 Achieves Record Daily Transaction Volume, Outperforming Arbitrum and Optimism

Coinbase’s recently launched Ethereum (ETH) layer-2 scaling solution, known as Base, achieved a remarkable milestone on Thursday. On September 14th, Base recorded over 1.8 million daily transactions, surpassing its previous record of approximately 1.4 million, as confirmed by the project’s block explorer.

What’s particularly impressive is that Base managed to process more transactions on that day than the combined total of its competitors, Arbitrum (ARB) and Optimism (OP). Arbitrum registered around 500,000 transactions on the same Thursday, while Optimism counted roughly 378,000 transactions, according to data from their respective block explorers.

Base was officially launched just last month and operates on the Optimism network. Coinbase has expressed its hopes that this project will play a pivotal role in bringing over a billion people into the cryptocurrency ecosystem.

It’s worth noting that Coinbase has no intentions of introducing a network token associated with Base. The project has been designed to be compatible with Ethereum, Ethereum layer-2 solutions, and alternative layer-1 blockchains.

As of the time of writing, Optimism (OP) is valued at $1.38. This crypto asset, ranked 41st by market capitalization, has seen a 2.2% increase in the past 24 hours and a growth of more than 6.1% over the past seven days.

Arbitrum (ARB) is currently trading at $0.788. Ranked 39th by market cap, this crypto asset has experienced a slight decrease of over 2.1% in the last day and a decline of more than 12.5% over the past week.

Read Also: North Korean Hackers Use Russian Crypto Exchanges for Illicit Digital Assets

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.