- Base crypto briefly led with over 30% of daily stablecoin transactions.
- Also, it has seen strong growth in TVL and overall transactions.
Base crypto has recently seen a surge in activity, marking significant milestones across several key metrics this October. Recent data highlights that stablecoin transactions on Base have reached record levels, surpassing other major platforms in volume and solidifying its growing influence.
Base crypto stablecoin volume reaches new heights
According to data from Artemis, Base crypto achieved the highest daily stablecoin transaction volume briefly, outpacing established platforms like Solana, Ethereum, and Tron.
With over 30% of total stablecoin transactions recorded on Base, the platform briefly held the highest transaction volume.
An analysis of data from DefiLlama shows that stablecoin volume on Base reached an all-time high of approximately $3.77 billion around mid-October. As of the latest data, the volume remains strong at around $3.75 billion.
Source: DefiLlama
Base crypto sets record in transaction count
Not only did Base crypto record the highest stablecoin transaction volume among blockchain networks, but it also saw a record transaction count.
Data from DefiLlama indicates that Base reached an all-time high transaction volume on 26th October, with 6.52 million transactions processed in a single day.
This spike follows a trend of increased daily transactions throughout October, marking the month as one of the busiest for Base to date.
Source: DefiLlama
In addition, the Base’s total value locked (TVL) has shown a strong upward trend. Although slightly down from its peak of $2.54 billion on 21st October, the TVL remains at nearly $2.5 billion, one of the highest levels in the platform’s history.
According to L2 Beats, Base currently holds the second-largest TVL among Layer 2 platforms, with Arbitrum leading the category.
Base crypto’s position among top platforms
Despite these achievements, Base still trails behind larger platforms like Solana and Ethereum in total transaction volume. Year-to-date data shows Solana leading with over $8.6 trillion in stablecoin transactions, followed by Ethereum with $6.1 trillion.
While Base crypto’s recent growth is impressive, it has further ground to cover to compete with these established networks.
This rise in transaction volume and TVL highlights Base crypto’s potential in the expanding crypto ecosystem. As it continues to break records, the platform shows promise as a competitor, particularly within the stablecoin transaction and Layer 2 markets.
