Base, the Layer 2 network incubated by Coinbase, has seen a significant increase in daily activity, surpassing competitors like Arbitrum and Optimism. On July 22nd, Base recorded 1,220,883 daily active addresses, more than double the figures of Arbitrum and Optimism, which had 494,214 and 445,222 respectively.
Growth and Adoption
The surge in activity on Base indicates growing interest and adoption in the broader crypto market. Since its public launch last August, Base has quickly become a prominent Layer 2 network. Despite a recent slump in total value locked (TVL), Base has rebounded, currently maintaining a TVL of over $7.3 billion as of July 23rd. This recovery represents a nearly 60% increase over the past three months. While Arbitrum leads with $18.07 billion in TVL, Base has secured the second position, with Optimism close behind at $6.86 billion.
On-Chain Donations Platform for US Politicians
Base has also introduced an on-chain donations platform, enabling US politicians to accept crypto contributions directly on the network. This platform supports over 240 crypto assets, including Bitcoin and Ethereum, as well as traditional credit card payments. Designed for efficiency and security, it aims to streamline the donation process while ensuring full compliance with US regulations. The platform’s commitment to privacy ensures that only the necessary information is collected to meet compliance standards.
Jesse Pollak, the lead of the Base network, emphasized the platform’s role in supporting blockchain-friendly candidates and promoting the future of digital currencies. This initiative aims to enhance the donation experience for both donors and political campaigns, highlighting the growing intersection between cryptocurrency and politics.
Conclusion
The rise in daily active addresses and the recovery in TVL highlight Base’s growing prominence in the Layer 2 ecosystem. With its new on-chain donations platform, Base continues to innovate and expand its influence, fostering greater adoption and integration of blockchain technology in various sectors.
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