Base Eyes Trading Volume Above $9.4B On Uniswap

Base has been showing impressive growth, especially after achieving an all-time high trading volume of $9.4 billion in March.

The scaling method for Coinbase’s Layer 2 Following the achievement of an all-time high (ATH) in trading volume on Uniswap, which was estimated to be $9.4 billion, Base is well on its way to surpassing its previous record.

Meteoric Rise In Base Trading Volume

According to the information presented in a chart created by Uniswap Labs, Base has been surpassing its monthly records ever since the beginning of the year.

This figure increased to $675 million in February, which is a significant increase from the $329 million that the layer 2 network disclosed as its trading volume in January.

The next month saw astounding growth to $9.4 billion, which is indicative of an increase in the interest shown by users. We should take into consideration Coinbase’s announcement in March that it will be storing its users’ USDC balances on the layer 2 Network.

In order to make the announcement regarding the next step for the company, Max Branzburg, Vice President and Head of Consumer Products at Coinbase, went to X.

Coinbase intends to undertake this change in order to facilitate the management and protection of user cash in a more convenient manner while simultaneously reducing fees and achieving faster settlement times.

This is yet another method that can be utilized to add more functionality to the Layer-2 platform. It is anticipated that the number of transactions recorded on the network will increase as a result of the implementation of such utilities, which will ultimately result in an increase in the number of users who use the layer 2 platform.

According to the data provided by Uniswap Labs, The layer 2 platform has already recorded a total trading volume of $7.8 billion in the middle of April. Taking into account the fact that the month is still halfway through, there is a very high likelihood that its trading volume record for April will rank significantly higher than that of March.

Base Outshining Arbitrum and Ethereum

When compared to the performance of other protocols within the Ethereum L2 ecosystem, Base has also demonstrated an outstanding level of performance.

L2Beat’s data at the time revealed that the layer 2 platform 30-day transaction count was 45.21 million, compared to 38.58 million for Arbitrum One and 37.93 million for Ethereum.

Within the same time period, the company’s Total Value Locked (TVL) increased to $3.89 billion, following a 19.96% increase in the volume of transactions recorded over the course of seven days.

It appears that Base is demonstrating resilience and long-term prospects, which is quite remarkable for a network that was confronted with a problem a few weeks ago due to abrupt network congestion.