Coinbase’s Base Network Surpasses 100,000 Daily Users Milestone Shortly After Launch

Key Points:

• Coinbase’s Base network surpasses 100,000 daily users soon after launch, hitting 136,000 in total.
• Chainlink integrates price feeds; Base hosts multiple DEXs, like Uniswap, attracting liquidity.
• Base’s “Onchain Summer” initiative gains traction with Coca-Cola, Opensea, and Atari, reshaping DeFi and Web3 landscape.

Coinbase’s Base network, a Layer 2 (L2) solution, has made a remarkable entrance into the public sphere shortly after its official launch.

On August 10, the network achieved a significant milestone by surpassing 100,000 daily active users for the first time, with a staggering 136,000 users in total.

Notably, nearly 42,000 of these users were newcomers, potentially linked to the rising popularity of Friend Tech, a social network integrated with the Base network.

After an initial period of being open exclusively for builders, the Base network, designed to enhance scalability, transitioned to an accessible stage. Coinciding with this, Chainlink, a prominent decentralized oracle network, introduced price feed integration into the network. This integration streamlines the adoption of DeFi protocols, including lending and borrowing platforms, as well as derivatives markets.

The journey to this achievement began when Base was introduced in beta on February 23. Anticipation was high within the crypto community, speculating that the platform could play a pivotal role in onboarding users to Web3 protocols, thanks to Coinbase’s extensive user base.

Following a period catering solely to builders, the mainnet version of Base launched on July 13, with a cautionary note about its user-readiness.

Impressively, several decentralized cryptocurrency exchanges (DEXs) have already announced their operations on the Base network, with Uniswap, a pioneer DEX on Ethereum, unveiling its Base version on August 7.

Moreover, Base’s team has introduced the “Onchain Summer” initiative in partnership with Coca-Cola, Opensea, and Atari, adding further momentum to its growing presence in the market.

As Coinbase’s Base network rapidly gains traction and garners substantial user engagement, its potential to reshape the landscape of decentralized finance and Web3 protocols becomes increasingly evident.

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