Friday, December 8, 2023

  • Base daily active users hits a record high of 136,000.
  • Activity on Base is tied to, a social network, rumored to be releasing a token airdrop.
  • $175 million has been bridged to Base since inception.

Frenzied activity around Friend.Tech, a social network platform built on Coinbase’s (COIN) layer 2 blockchain Base, has driven daily active users to a record high of 136,000, per Dune Analytics.

Following a modest public release that saw just $10 million in fresh inflows, Base has now overtaken rival layer 2 blockchain Optimism in terms of daily active users as it nears Arbitrum’s total of 147,000, according to tokenterminal data.

A total of $175 million has been bridged to Base since its inception, with almost 580,000 transactions recorded on Thursday.

Much of this has been attributed to Friend.Tech, a new social network that allows users to purchase or sell shares tied to popular Twitter figures.

The app is in beta and can only be accessed with a valid sign-up code. A grayed-out section at the top of the app suggests the platform will release a token, spurring a flurry of activity as users attempt to farm a potential airdrop by sharing referral codes.

The platform’s servers experienced downtime on Thursday following a surge in sign-ups.

Base is an Ethereum (ETH) layer 2 blockchain that was incubated by Coinbase and built using the Optimism (OP) stack.

Read more: Coinbase Officially Launches Base Blockchain in Milestone for a Public Company

Edited by Aoyon Ashraf.

#Coinbase #Layer #Base #Overtakes #Optimism #Daily #Active #Users #Friend.Tech #Hype #Soars

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