Base Hits Record Transaction Volumes in March, DeFi Activity Surges

• Base saw an all-time high of 2.27 million transactions on March 29.
• The blockchain’s weekly network revenue also reached a record high on March 18.

Daily transactions and trade volumes on the layer two blockchain Base, which is incubated by Coinbase, continue to soar as March draws to a close, reaching record highs. According to statistics from a Dune Analytics dashboard, Base saw an all-time high of 2.27 million transactions on March 29.

The weekly transaction count on Base reached an all-time high of over 9.59 million on March 18, which led to the rise in daily activity. About 9.3 million in September of last year was the previous weekly record.

Surging DeFi Activity

According to the statistics, Base’s weekly network revenue also reached a record high on March 18. DefiLlama data shows that decentralized exchanges on Base also achieved record-high levels yesterday, with a total 24-hour volume of $657.19 million.

The month of March completely scrubbed up Base’s DEX activity from the months before. This month, Base DEXs have seen $6.67 billion in trading, a considerable increase from $1.26 billion last month, as seen by the statistics. The total value locked into Base surpassed $1 billion earlier this week, coinciding with Coinbase’s announcement that it will be adding additional corporate and client USDC holdings to the L2.

Sartoshi, creator of the cc0 non-fungible token collection mfers, has just launched mfercoin, which is adding to the current activity on Base. Those who own mfer NFTs were airdropped the mfercoin token late yesterday night. Data from CryptoSlam shows that mfer NFT sales surged 600% in the last 24 hours, sending its floor price soaring to 0.719 ETH on OpenSea.

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