Base network sees big surge in transactions and new users following Dencun upgrade
The daily transaction volume of Base, the Ethereum Layer 2 network incubated by Coinbase, has experienced significant growth over the last week — likely driven by low transaction fees following the Dencun upgrade. This Layer 2 network witnessed a sudden spike in daily users and transactions, reaching record highs shortly after the Dencun upgrade. This led to a dramatic drop in transaction fees on most Layer 2s, including Base.
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