Base Sets Record High DEX Volume Exceeding $1B

Base Sets Record High DEX Volume Exceeding $1B

Base Sets Record High DEX Volume Exceeding $1B

Base, has broken its own record by surpassing $1 billion in trading volume within 24 hours on decentralized exchanges (DEX).

Base has broken its own trading volume record on decentralized exchanges (DEX), experiencing a surge of about 25%, exceeding the $1 billion milestone Within 24 hours.

This is an increase of around 25 percent compared to the previous day. As per the figures provided by Dune, Base’s DEX trading volume on March 30 amounted to $1.21 billion, representing a 25% increase from the previous day’s total of $959.63 million.

After UniSwap, which accounted for 64.3% of the volume, Aerodrome Finance, which accounted for 9.7% and SharkSwap, which accounted for 7.8%, the majority of the trading activity took place on UniSwap.

Base Sets Record High DEX Volume Exceeding $1B
DEX volume (%) across the exchanges. Source: Dune

Daily active users (DAU) also experienced a surge of approximately 12.4%, increasing from 153,000 to 172,000. Throughout the last half-month, there have been an average of 667,765 users who are active every week.

It is a widely held belief among members of the cryptocurrency community that the expanding network has the potential to become the next hub for memecoins. “Wizard of SoHo,” a cryptocurrency dealer, shared with his 97,000 X followers that Base reminds him of an “early Solana.”

He also predicted “several billion-dollar memecoins on base.” Additionally, Jesse Pollak surveyed his 73,200 followers, inquiring about the amount of time that would pass until it becomes the “largest non-Ethereum on-chain economy.”

The response from 49.4% was “3 months,” while another 28.6% expected it would be “within 12 months.” There are currently no tokens on the network that have a market capitalization that is equal to or greater than one billion dollars as of the time of publication.

Base Sets Record High DEX Volume Exceeding $1B
DEX volume ($) base DEX metrics. Source: Dune

Based on the data provided by CoinGecko, Degen (DEGEN) and Brett (BRETT) are among the most prominent base memecoins, with a market capitalization of $709.9 million and $654.6 million, respectively.

Only one week earlier, on March 25, it wws reported that the market capitalization of DEGEN had reached $143.4 million. This represents a growth of nearly five times within seven days.

According to a story from March 27, Coinbase will start moving more of its customer and corporate USD Coin (USDC) stablecoin accounts to Base.

Max Branzburg, the vice president of Coinbase, said in a social media statement that the change would enable the cryptocurrency exchange to “manage and secure customer funds with lower fees and faster settlement times.”

The change will only affect accounts; Coinbase Wallet accounts will remain unaffected, as users of Coinbase Wallet are in charge of their private keys.

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