Base Chain, Coinbase’s layer-2 blockchain launched in 2023, is showing remarkable growth across key metrics. The network has rapidly cemented its position as the leading layer-2 solution, outpacing Ethereum and its competitors in both user activity and transaction volume.
Record-Breaking Transactions and User Activity
According to blockchain analytics platform Nansen, Base Chain’s weekly transactions have surged by 27%, reaching 65.9 million significantly higher than Ethereum’s 9.4 million over the same period. Even more striking, active addresses on Base jumped 42% in just seven days, topping 9.7 million compared to Ethereum’s 2.14 million.
This exponential growth places Base ahead of rival layer-2 solutions like Arbitrum, Optimism, and Polygon, reinforcing its leadership in the L2 space.
DEX Volumes Climb Toward $400 Billion
Data from DeFi Llama shows that Base Chain protocols have processed over $363 billion in decentralized exchange (DEX) transactions since launch. With $25 billion recorded in the past 30 days alone, the network is on track to surpass the $400 billion milestone by June or July 2025.
The leading DEX on the Base Chain is Aerodrome, responsible for more than $183 billion in total transactions. Uniswap follows with over $130 billion, while other notable platforms like PancakeSwap, Woofi, Javsphere, and Sushi contribute to the network’s overall momentum.
DeFi Dominance and TVL Growth
Base Chain has climbed to become the sixth-largest chain in decentralized finance (DeFi). Its total value locked (TVL) currently stands at $4.7 billion, placing it ahead of major names such as Avalanche, Cardano, Sui, and Cronos.
A key driver behind this growth is Base’s competitive advantage in terms of lower transaction fees and faster settlement speeds, which have attracted a large number of users and developers to the ecosystem.
Meme Coins and Market Appeal
Base is also becoming a hotspot for meme coin activity. The combined market cap of meme tokens on Base has grown to over $1.7 billion, with top-performing tokens like Brett (BRETT), Toshi, Degen, and Ponke drawing significant investor attention and community engagement.
No Airdrop in Sight—Yet
Despite its explosive rise, Coinbase has resisted pressure to airdrop a native $BASE token to its community. Prediction markets on Polymarket currently show only a 2% chance of a Base airdrop materializing in Q2 2025.
If such an airdrop were to occur, it would be substantial. Comparatively, Arbitrum which is smaller than Base—has a fully diluted valuation (FDV) of $3.9 billion, followed by Optimism ($3.07B) and Polygon ($2.46B). Analysts expect Base would debut with an even higher valuation given its rapid user and volume growth.
Base Chain is not just riding the momentum it’s redefining the layer-2 space. With record-setting transaction activity, growing DEX volumes, and a booming meme coin ecosystem, Base is solidifying its role as a dominant force in decentralized finance. All eyes will now be on whether the network can maintain this momentum and whether a potential airdrop could be the next big catalyst.
