• Coinbase’s new Ethereum (ETH) layer-2 scaling solution briefly surpassed Optimism (OP) and Arbitrum (ARB) this week in terms of daily transactions.
• According to data provided by each scaling solution’s respective block explorers, Base hit 617,330 transactions on August 13th, compared to 438,559 for Optimism and 544,575 for Arbitrum on the same day.
• Coinbase has previously said it hopes Base helps onboard over a billion people into the crypto economy.
Coinbase’s New Ethereum Layer-2
Coinbase recently launched a new Ethereum layer-2 scaling solution that briefly surpassed Optimism (OP) and Arbitrum (ARB) this week in terms of daily transactions.
Transaction Counts
Data provided by each scaling solution’s respective block explorers showed that Base achieved 617,330 transactions on August 13th, compared to 438,559 for Optimism and 544,575 for Arbitrum on the same day. Both Optimism and Arbitrum have since surpassed Base in terms of daily transaction counts. The all-time high level of daily transactions occurred three days earlier on August 10th with 757,294 transactions.
Optimism Token
The native token of Optimism is OP which is trading at $1.38 at time of writing and is ranked 42nd by market cap. It has experienced nearly 1.5% decrease in the past 24 hours and more than 13% decrease in the past seven days.
Arbitrum Token
The native token of Arbitrum is ARB which is trading around $0.987 at time of writing and is ranked 39th by market cap. It has undergone nearly 5.75% decrease in the past day and nearly 18% decrease in the past week
Coinbase Goal
Coinbase hopes that its new layer-2 project will help onboard over a billion people into the crypto economy without launching a network token associated with it as it has been designed to be compatible with Ethereum, its layer- 2s as well as alternative layer-1 blockchains