Base’s transaction volume skyrockets after Dencun update

2 Min Read

Base’s each day transaction quantity skyrocketed to 2 million on March 16, following the Dencun launch.

Based on Dune knowledge, on March 13, after the Dencun replace went reside, the each day variety of transactions within the Base community exceeded 2 million, rising fivefold.

Base's transaction volume skyrockets after Dencun update - 1
Supply: Dune

Earlier than the replace, on common, Base community customers carried out about 440,000 transactions each day, however on March 16, the determine reached over the thousands and thousands and continues to develop. The variety of new customers has additionally elevated considerably. On March 16, 666,866 new addresses appeared within the Base community, a 3,200% enhance within the common earlier than the Dencun replace.

On common, base customers have seen transaction charges drop by greater than 60%. Nonetheless, that is additionally true for different layer-2 networks primarily based on Ethereum. At present, $1.46 billion is blocked within the Base community — the sixth consequence amongst layer-2 options. The leaders stay the Arbitrum and Optimism blockchains with a complete capitalization of $23 billion.

Base's transaction volume skyrockets after Dencun update - 2
Supply: L2Beat

Dencun is predicted to considerably scale back transaction prices for layer-2 networks and introduce important enhancements to extend Ethereum‘s scalability. Scaling and efficiency might be optimized, promising a extra environment friendly and user-centric expertise.

Options corresponding to improved transaction processing, decrease gas fees, and elevated throughput have been launched to enhance the effectivity and accessibility of the Ethereum platform.

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