Base surges to 2M daily transactions following Dencun upgrade

Daily transactions on the Coinbase Ethereum layer-2 network Base skyrocketed to a record 2 million on March 16, just a few days after the Dencun upgrade. Before the upgrade, Base was processing around 440,000 transactions per day. The day after, this climbed to 1.1 million and continued to rise in the days following, hitting 2,064,920 on March 16. The 350% jump in transactions has been linked to a vast reduction in fees for Base following the Dencun upgrade. Average transaction fees on Base have fallen by more than 60% since the upgrade, according to Blockscout. Launched by Coinbase in August, Base is the sixth-largest network in the Ethereum layer-2 ecosystem with a total value locked of $1.46 billion.

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