Coinbase-backed Base leads in Ethereum layer-2 fees amid trading activity surge

Coinbase-backed Base has the highest transaction fees among Ethereum layer-2 networks owed to the existent question of attraction it enjoys among crypto traders.

Gasfees data shows that Base is the priciest layer-2 protocol among scaling solutions that person implemented the Dencun Upgrade’s Blobs feature. The diagnostic importantly reduces transaction fees and enhances throughput for layer-2 networks by allowing for a much businesslike and cost-effective mode to station rollup data.

Ethereum Layer-2 Network Fees (Source: Gasfees)

Indeed, the mean transaction interest connected Base hovers betwixt $0.0857 and could scope arsenic precocious arsenic $0.5582 for an mean NFT commercialized connected Seaport compared to the mean transaction interest connected Optimism, which ranged betwixt $0.0009 and $0.0550.

Meanwhile, the blockchain web confirmed this precocious interest situation, noting that it was caused by “high web traffic.” However, it claimed the occupation had been corrected arsenic of property time.

Why Base transaction fees spiked

Crypto expert Kofi attributed the concern to heightened bot trading activities consenting to wage the “high precedence fees.”

Another on-chain information analyst, Michael Silberling, provided a much broad penetration into the elevated interest phenomenon. He highlighted automated actors focusing connected memecoins and arbitrage opportunities connected the Base web arsenic cardinal contributors to the interest surge.

Silberling noted that these traders typically grounds little sensitivity to fees than mean users, thereby sustaining the elevated web fees connected Base owed to accrued demand.

Notably, a dune analytics dashboard curated by expert Hildobby showed that the fig of atomic arbitrage bots connected Base had seen an uptick recently.

Bots connected Base. (Source: Dune Analytics)

Base DEX measurement surge

The accrued bot trading enactment has pushed the regular trading measurement of decentralized exchanges (DEXs) connected the Ethereum Layer 2 web to a caller precocious of $374 cardinal the past day.

This milestone reflects Base’s increasing popularity among crypto traders pursuing the palmy completion of the Dencun upgrade. According to data from DeFiLlama, transactions connected the level person soared by 71% implicit the past week, reaching astir $1.5 billion.

In addition, the full worth of assets locked connected the web has spiked to a caller precocious of $775 million.

The station Coinbase-backed Base leads successful Ethereum layer-2 fees amid trading enactment surge appeared archetypal connected CryptoSlate.