The leading Ethereum layer-2 network by active addresses this month is now the Coinbase-supported Base network, surpassing Arbitrum. In the first nine days of April, Base had over 1.48 million new active addresses, narrowly beating out Arbitrum One with 1.43 million active addresses, according to data from growthepie. The top four Ethereum scaling solutions in terms of active addresses are Base, Arbitrum One, zkSync Era, and the Optimism mainnet, with 3.76 million, 3.84 million, 1.21 million, and 650,000 active addresses respectively. However, over the last 30 days, Arbitrum One still maintains a slight lead over Base with 3.84 million active addresses compared to Base’s 3.76 million. Starknet and Mantle have seen the largest decrease in active addresses at 51% and 40% respectively over the last 30 days. Base recently surpassed $4 billion in total value locked on the protocol, placing it behind Arbitrum One and the OP Mainnet according to L2BEAT. Base also has the highest 30-day transaction count at 53.1 million, surpassing Arbitrum’s 41.2 million and Ethereum’s 37.9 million. The increase in active addresses on Base has been partly driven by a recent surge in memecoin activity on the network. Some of the largest memecoins on Base are Brett (BRETT) and Degen (DEGEN) with market caps of $720 million and $523 million respectively, according to CoinGecko. Toshi (TOSHI) and Normie (NORMIE) are also popularly traded memecoins on the network. However, Base’s popularity has attracted scammers, resulting in an 18-fold increase in successful phishing scams from January to March, with $3.35 million stolen last month. An analysis shows that one in six memecoins on Base are scams, and 91% of Base memecoins have security vulnerabilities that could lead to significant losses for users. Coinbase launched Base last August and currently serves as the sole sequencer of the network, meaning it has full control over the chain. However, the company plans to gradually decentralize Base over time.
Base surpasses Arbitrum in terms of active addresses this month