Base Outshines Ethereum in Daily Transactions

Reading Time: 2 minutes
  • The daily transactions on Coinbase’s Base network have surpassed those on the Ethereum blockchain
  • Transactions on Base reached 1.37 million while Ethereum recorded 1.01 million on August 21, but Ethereum maintained the lead on daily active addresses
  • The rise in transactions on Base is attributed to the ongoing hype around the app

Coinbase’s Base network has beaten Ethereum in daily transactions, recording 1.37 million transactions against Ethereum’s 1.01 million transactions on August 21. However, the daily active addresses on the Ethereum blockchain overshadowed those on Base by a difference of 162,000 addresses. The rise in daily transactions on Base is linked to the hype around the Based-powered app, with some in the web3 world warning that the frenzy is short-lived.

Transactions Come From Spammers and Bots

According to data, the daily transactions on Base have been on a steep increase since August 17 while those on Ethereum have been largely constant around one million transactions daily.

Analysts have however noted that most of the transactions on Base are linked to the popular app. The app allows users to tokenize their friends’ Twitter profiles and trade them as shares or keys. Purchasing a Twitter profile’s keys gives the buyer access to that profile’s private messages.

Some analysts like Flashbots’ Robert Miller have disclosed that most of the transactions on the Ethereum layer-two platform originate from spammers and bots interacting with the app. According to analytics platform DeFiLlama, the app has generated over $700,000 in fees and more than $360,000 in revenue in the last 24 hours.

A Nasty End in Store?

The apps’ critics see the hype as not only a fad but also one that’s likely to “end badly when the onboarding slows down.”

Apart from the app showcasing Base’s bright side, the network has also been accused of having a dark side. The platform is estimated to host around 500 scam tokens while some of its projects like SwirlLend have conducted a rug pull.


Since it’s not known when the hype around will subside, the app is poised to continue beating Ethereum on daily transactions and possibly on daily active addresses and other metrics.