Base Network Leads Ethereum L2 with 400% Growth, 432k Addresses, $55M USDC Bridged

The Base network, backed by Coinbase, is experiencing significant growth and adoption in the cryptocurrency space, with a nearly 400% increase in activity over the past month, making it the Layer 2 platform with the most daily active addresses, now totaling 432,000. This surge in activity has led to Base surpassing other leading Ethereum Layer 2 solutions, including Arbitrum, in terms of active addresses for April. Additionally, the network has seen $55 million USDC bridged to it since March 1st, indicating growing trust and utilization among users. Despite Solana's current congestion issues, with a 75% transaction failure rate, Base is emerging as a preferred alternative, offering faster and cheaper transactions with exposure to Ethereum. The platform's success is also reflected in the significant amount of USDC on Base, with $1.58 billion reported, 92% of which was minted in the past 30 days. Moreover, Base's impact on Ethereum is evident, as it contributes to the rising price of ETH due to its fee structure. Coinbase's commitment to not creating a native token for Base and focusing on Ethereum for transaction fees further aligns with the platform's growth strategy.