Coinbase Layer 2 Base Overtakes Optimism in Daily Active Users as Friend.Tech Hype Soars
1A grayed-out "airdrop" icon at the top of the Friend.Tech app suggests the platform will release a token.
Base daily active users hits a record high of 136,000.
Activity on Base is tied to Friend.tech, 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.
https://www.coindesk.com/markets/2023/08/11/coinbase-layer-2-base-overtakes-optimism-in-daily-active-users-as-friendtech-hype-soars/
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