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Title 1: Coinbase’s Base Emerges as the Fastest Layer-2 Network with Impressive Adoption
Coinbase’s recent “onchain summer” campaign has proven to be a remarkable marketing success, particularly for its layer-2 solution called Base. Research conducted by CoinGecko reveals that Base achieved the milestone of 1 million addresses in just 11 days, making it the fastest layer-2 network to do so. In comparison, other heavyweights like Arbitrum and Optimism took significantly longer, reaching the same milestone after 303 days and 191 days, respectively.
While Base has been successful in attracting major brands like Coca-Cola, Showtime, and Atari to launch on its network, the majority of its activity revolves around various cryptocurrency-related endeavors. From the rise of meme coins to Twitter imitations, individuals are flocking to Base to explore the world of crypto degeneracy. Tokens like BALD, COIN, and BASED have gained significant attention and dominance on the network. For instance, BASED achieved a market capitalization of $291 million in less than a day. BALD, named after Brian Armstrong’s hairless head, experienced a surge of over 3,000% on July 31.
Moreover, with the introduction of Friend.tech, a tokenized version of Twitter, Base has successfully attracted both OnlyFans creators and crypto enthusiasts. These activities within the crypto landscape have proven to be lucrative for Base, with the network generating a cumulative revenue of $4.9 million since its launch. Even after removing fees associated with pushing this activity to the Ethereum mainnet, Base still retains a substantial profit of $3.3 million.
In comparison to other layer-2 networks, such as Arbitrum and Optimism, Base has demonstrated a higher profit margin. Despite a slight declining trend in its weekly percentage profit margin, Base consistently maintains a strong margin above 60%, which is significantly higher than its counterparts. This emphasizes the success and robustness of Coinbase’s latest on-chain experiment.
With the official launch of Base’s mainnet just 22 days ago, the network has already seen significant user adoption and revenue generation. Prior to the launch, users had already bridged money over to Base, contributing to the accumulation of revenues prior to August 9. In comparison, Arbitrum has generated $63 million in revenue since its launch, with a profit of $16.5 million. Optimism, on the other hand, has achieved $43 million in revenue and $9.9 million in profit.
As long as the Base network continues to attract users with its engaging meme culture and gambling opportunities, the potential for growth remains limitless for Coinbase’s ambitious on-chain experiment.
Title 2: Base by Coinbase: The Rising Star of Layer-2 Networks
Coinbase’s “onchain summer” campaign has catapulted Base, its layer-2 solution, into the limelight as an exceptional success story. Within a span of just 11 days, Base managed to amass 1 million addresses, making it the fastest layer-2 network to achieve this milestone. In comparison, other prominent layer-2 networks such as Arbitrum and Optimism took significantly longer, requiring 303 days and 191 days, respectively.
While Base has attracted renowned brands like Coca-Cola, Showtime, and Atari to join its network, it primarily garners attention for its involvement in various crypto activities. From the proliferation of meme coins to the emergence of Twitter-like platforms, users are flocking to Base to explore the world of crypto degeneracy. Tokens like BALD, COIN, and BASED have dominated the network, capturing widespread attention. For instance, BASED quickly achieved a market capitalization of $291 million within less than a day, while BALD experienced a staggering surge of over 3,000% on July 31, seemingly inspired by Brian Armstrong’s hairless head.
Additionally, Friend.tech, a tokenized version of Twitter, has successfully enticed both OnlyFans creators and crypto enthusiasts to participate on the Base network. These crypto-native activities have not only gained popularity but have also generated substantial revenue for Base. Since its launch, the network has accumulated a total revenue of $4.9 million. Even after eliminating fees associated with pushing activity to the Ethereum mainnet, Base still retains a commendable profit of $3.3 million.
Base’s profitability stands out when compared to other layer-2 networks. Despite a slight declining trend in its weekly percentage profit margin, the network consistently maintains a strong margin above 60%, surpassing other L2 rollups. Arbitrum, for instance, generated $63 million in revenue since its launch, with a profit of $16.5 million, while Optimism achieved $43 million in revenue and $9.9 million in profit.
With Base’s mainnet launch just 22 days ago, the network has already demonstrated remarkable business growth and user adoption. Users had already bridged money to Base before the official launch, contributing to its revenue accumulation prior to August 9. Coinbase’s latest on-chain experiment has showcased promising potential for continued success, as long as the Base memes continue to thrive and the crypto gambling fervor persists.