The Number of Active Addresses on the Base Blockchain Increased by 50%

Base, Ethereum's layer-two network from Coinbase, recorded 942,313 active addresses on October 22 – a 49.8% increase from the previous day, despite a decline in transactions and user fees. This data is provided by growthepie in an analysis by The Defiant.

The second day of address growth diverged from other network usage metrics. growthepie counted 9.57 million transactions – 8.7% less than the 10.49 million on October 21. Fees paid by users in dollars decreased by 20% – to approximately $90,981 from $113,703.

For developers and investors monitoring Base's growth, the figures indicate a broader set of active addresses without a corresponding increase in transactional demand. During the surge, there was a trading competition by GMGN requiring new wallets: this is one possible factor for address activity, but overall network data does not allow for determining its share in the increase.

The figure on October 22 is 167.3% above the seven-day median of 352,544 and is the maximum for the 30-day window from September 23 to October 22. It exceeded the previous window maximum of 629,142 on October 21, continuing the surge reported the day before. All measurements are for full days in Coordinated Universal Time.

The daily transaction dump from BaseScan independently showed the same trend: about 9.63 million transactions on October 22 compared to 10.53 million on October 21.

The GMGN trading platform announced a competition on Base on October 21, promising the winner $20,000 and running it until October 26. "Trade Base coins and climb the leaderboard," the announcement said. Base promoted the competition on October 22. The published GMGN rules require the registration of new contest wallets without funds, assets, and trading history; only trades through GMGN from registered contest wallets are counted. This creates a reason for an existing trader to use a new address, which does not necessarily mean a new person is joining Base.