Base network activity hits new highs

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Base network activity hits new highs
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Base, a layer 2 network that has been gaining prominence in the blockchain scene, reached new records of on-chain activity after the conclusion of the second Onchain Summer campaign on August 30, 2024.

The initiative, which aimed to promote the use of decentralized technologies in various sectors, exceeded expectations and propelled the Base to unprecedented levels of engagement.

According to data released on September 10 by Base itself, the event attracted over 2 million wallets. This represented an eight-fold increase compared to the previous year’s event. During the campaign, users minted 24 million digital assets. These assets generated over $5 million in revenue for the developers who participated in the event.

Onchain Summer not only showcased the numbers, but also served as a showcase to showcase the many applications of blockchain technology. The event highlighted how decentralization puts ownership of content back in the hands of creators. It also offers opportunities in areas such as music, art, sports, and even gastronomy.

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Base Network

Among the highlights, renowned companies actively participated in the event. Atari, for example, launched its classic arcade games on the Base network. Meanwhile, Team Liquid hosted an e-sports tournament with prizes distributed directly on the network.

Additionally, Doodles facilitated first access to collectibles and music from popular artists, reinforcing the potential of NFTs and web3.

Even after the end of Onchain Summer, Base activity continues to grow. Data from GrowThePie reveals that the network has reached a record 1.17 million daily users, with 4.41 million transactions completed in the last 24 hours. This is a 28% increase in user numbers and a 2.67% increase in transaction volume since the end of August.

Over the past seven days, approximately 5.23 million wallets have interacted with Base. This number represents a 58.3% increase from the previous week and places Base in a prominent position among Layer 2 networks, surpassing competitors such as Arbitrum and OP Mainnet in terms of user engagement and retention.

Base has also attracted participation from major web2 companies such as Stripe and Shopify, who have joined established web3 names such as Farcaster and Nouns to explore the possibilities offered by the network. In June, Base held its Buildathon, which brought together over 7,500 builders and 1,250 innovative projects, with $200,000 in prizes and 300 ETH distributed among participants.

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