On June 17th, Uniswap dominated the Base blockchain with an 85% share of users. The recent increase in trading activity of meme coins on the Base network played a significant role in this. Base, a Coinbase-backed Ethereum layer-2 network, reached a new record with 270,000 daily active users on June 17th, marking a 9% increase from the previous day.
According to statistics from Dune Analytics, Base-powered decentralized exchanges surpassed BNB Chain in terms of active users, but are still trailing behind Solana. The surge in meme coin trading on the Base network has been a major driving force in its rapid adoption, attracting market participants eager to capitalize on the frenzy.
The popularity of meme coins like DEGEN and BRETT has led to a significant increase in trading volumes on the Base network. Uniswap led the way with 85% of users on June 17th, followed by PancakeSwap at 3.8%, Aerodrome Finance at 3.2%, and SushiSwap at 2.3%.
In March, Base’s total DEX volume reached $1.2 billion, but as of June 17th, the daily DEX trading volume had fallen to just over $298 million. Uniswap accounted for 81.1% of the daily volume, with PancakeSwap and Aerodrome Finance together making up 6.6% of the Layer 2 network volume. Base has also become a popular choice for investors looking to inject fresh funds.
In other crypto news today, Ethereum surged past $3.5K as the SEC closed its investigation on ETH sales.
