Base, the Ethereum Layer 2 network operated by Coinbase, saw a significant surge in daily active addresses on October 21, reaching 629,142. This marked a 30-day high and an 82.5% increase above the preceding week’s median of 344,705, according to data from Growthepie. The previous peak within the 30-day comparison was 399,836, recorded on September 30.
The spike in activity coincided with a trading competition launched by GMGN, which offered a $20,000 prize. The competition, announced on October 21, began on October 22 and is set to run through October 26. Participants are required to use fresh wallets without prior trading history, and the rules prohibit wash trading and coordinated trading between participants.
Alongside the rise in active addresses, transactions and user-paid fees also increased. Growthepie recorded 10.49 million transactions on October 21, up from 8.66 million the day before. User-paid fees climbed to about $113,703, compared with $81,878 on the previous day. However, the increases in transactions and fees were less sharp than the surge in active addresses.
It’s important to note that the rise in daily active addresses does not necessarily indicate an equivalent increase in unique users. The measure reflects activity at the wallet-address level, serving as a proxy for address-level activity rather than individual user engagement.