Coinbase's Layer 2 network, Base, has demonstrated significant growth and activity in recent weeks. The network reached 10 million active addresses, with over 65% of them on Base. Additionally, Base recorded over 4.5 million transactions, showcasing its rapid expansion. A new wrapped Bitcoin token, cbBTC, has been introduced on Base and Ethereum, driving further activity. The supply cap for cbBTC was increased from 110 to 220 due to high demand, with over 2000 BTC wrapped so far. cbBTC has also become the third largest wrapped BTC within one week of its launch, with a total market cap of $125 million and over 8000 holders. $6.7 million cbBTC is now supplied to MoonwellDeFi on Base, all without additional market incentives. Gauntlet has increased the supply cap to meet the demand. Furthermore, Base's daily USDC transfer volume reached $10 billion for the first time, outperforming many other chains.