Coinbase’s Layer 2 blockchain, Base, surpassed Ethereum, Solana, and Tron in one-day stablecoin transfer volume for the first time on Oct. 26. The data from Artemis reveals that Base accounted for 30% of all stablecoin transfers, primarily in USDC and USDT.

Surge in Stablecoin Volume on Base

Base’s one-day volume was part of $60 billion in stablecoin transfers, with USDC leading the transactions, followed by USDT. This significant volume demonstrates Base’s growing traction among stablecoin users.

Competing with Other Leading Blockchains

Although Solana remains the leader in year-to-date stablecoin volume, Base’s strong October performance places it in close competition. The platform’s rapid growth shows its potential as a significant player in stablecoin transactions, especially with DeFi applications.
Read the full article on theblock.