In December 2024, Base, a famend layer-2 community, achieved an enormous milestone in DEX buying and selling on the decentralized trade platform Uniswap.
For the primary time, the Base chain noticed its month-to-month decentralized buying and selling quantity cross the $100 billion mark. That is evident from the newest information that Uniswap Labs launched in the present day on the X platform.
Base Simply Turned the Second L2 to Ever Cross $100 Billion in Swap Quantity on the Uniswap Protocol
👀 pic.twitter.com/DCeVCyrlee
— Uniswap Labs 🦄 (@Uniswap) January 14, 2025
This efficiency displays Base’s growing affect within the decentralized buying and selling sector. It additionally highlights the community’s aggressive benefit over different layer 2 networks, together with Arbitrum, Polygon, Optimism, and plenty of others.
Base reaches $100 billion on Uniswap
Based on the newest information, Base grew to become the second layer 2 community to surpass $100 billion in decentralized buying and selling quantity in Uniswap.
Final yr in September, Arbitrum grew to become the primary layer 2 scale answer to surpass $200 billion. It’s the first L2 community to succeed in such a big quantity through the Uniswap protocol.
Turning into the second L2 community to exceed $100 billion in DEX quantity on Uniswap, Base’s rise is clear when in comparison with different layer 2 options. The corporate’s dominance in DEX buying and selling is unbelievable, underscoring its growing attraction to institutional buyers and retail merchants alike.
Grassroots development and the way forward for DeFi
The elevated DEX quantity on Base displays elevated demand for digital belongings and stablecoins within the broader DeFi ecosystem. It coincides with the resurgence of DeFi and the rise in crypto returns.
One other main issue behind this rise is the continuing meme coin craze, which continues to drive large buying and selling exercise on Base. Final yr, meme cash like Brett and Degen noticed their market worth rise to $596 million and $589 million respectively, just a few days after their launch on Base. In different phrases, Base’s rising meme coin exercise is contributing to Base’s spectacular DEX buying and selling on Uniswap.
The unbelievable buying and selling quantity on Uniswap was additionally supported by a rise within the variety of month-to-month transactions and energetic addresses within the Base community. This enhance highlights the broader story of extra customers switching to Base for its low-cost transaction and excessive processing pace, making it a most popular different to DeFi platforms and dApps.
On the time of writing, Base is buying and selling at $0.9775, up 16.0%, with a buying and selling quantity enhance of 129.90% and a market cap of $627.48k.
With continued continued curiosity within the DeFi panorama, it’s clear that Base is properly positioned to proceed to see development. It is going to play an enormous position in shaping the way forward for DeFi.