Key Points

  • Coinbase layer 2 network Base set a new record yet after hitting 136,000 daily users on AUG 10
  • On the same day, about 30% of the users were new.

Coinbase layer 2 network Base has registered an impressive 136K users in a day despite the exchange being under US SEC investigations and legal battles.

Coinbase layer 2 network Base gaining traction despite legal troubles

On-chain analytics show that over 136K users accessed the Coinbase layer 2 network Base on August 10, just a day after its launch, a record performance for a new blockchain.

Nearly 42,000 users accessed the network for the first time on August 10 though its record high for new users was on July 31 when it hit the registered 60,000 mark. Data from show that the blockchain stood as the 4th largest in daily transactions among layer 2 networks, just behind zkSync Era, Arbitrum, and Optimism.

The network launched on August 9 officially and has been pulling numbers despite the exchange being in a legal battle with the US SEC. It is being charged for acting as a securities broker despite not having had the chance to register ‘fully’ with the regulator regarding the complainants in the past.

However, the case is still far from being determined. Keep watching Fintech Express for details and updates as soon as they happen.