Base surpasses Arbitrum as the leading platform in terms of active addresses this month.

Base network, supported by Coinbase, has emerged as the leading Ethereum layer-2 network in terms of active addresses this month, surpassing Arbitrum. In the first nine days of April, Base witnessed a staggering increase of over 1.48 million active addresses, narrowly outpacing Arbitrum One, which recorded 1.43 million active addresses, according to data from growthepie. Following closely behind were Ethereum scaling solutions zkSync Era and the Optimism mainnet, with 1.21 million and 650,000 active addresses respectively. However, over the last 30 days, Arbitrum One still holds a slight advantage over Base with 3.84 million active addresses, compared to Base’s 3.76 million.


The past month has seen Starknet and Mantle experience significant declines in active addresses, with drops of 51% and 40% respectively. Meanwhile, Base recently achieved a significant milestone by surpassing $4 billion in total value locked on the protocol earlier this month. It currently trails only Arbitrum One and OP Mainnet in this regard, according to L2BEAT. Additionally, Base boasts the highest transaction count in the last 30 days, with 53.1 million transactions, surpassing Arbitrum’s 41.2 million and Ethereum’s 37.9 million, as reported by L2BEAT.
The increase in active addresses on Base can be partly attributed to the recent frenzy surrounding memecoins on the Coinbase-supported network. Memecoins like Brett (BRETT) and Degen (DEGEN) have gained significant popularity on Base, with market caps of $720 million and $523 million respectively, according to CoinGecko. Toshi (TOSHI) and Normie (NORMIE) are also highly traded memecoins on the network.
However, Base’s growing popularity has also attracted scammers, resulting in an 18-fold increase in successful phishing scams from January to March, with a total of $3.35 million stolen last month. An analysis reveals that one in six memecoins on Base are scams, and 91% of Base memecoins have security vulnerabilities that could expose users to substantial losses.
Coinbase officially launched Base in August last year, with the cryptocurrency exchange serving as the sole sequencer of the network, according to L2BEAT data, effectively giving the exchange full control over the chain. However, Coinbase has expressed its intention to gradually decentralize Base over time.
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