Base Active Users

    This dashboard tries to analyze active users on the Base network. The goal of this dashboard is to show where most of the activity is taking place on chain and where the active number of users is growing on chain.

    Introduction

    Welcome to this comprehensive analytical dashboard that offers an in-depth exploration of active users on the Base Mainnet by Coinbase, the latest Ethereum Layer 2 (L2) network. In an era marked by the evolution of blockchain technology, having a profound comprehension of where the most vibrant activities unfold on the chain, and understanding the trajectory of active user engagement, is of paramount significance. This dashboard is meticulously crafted to provide valuable insights into these pivotal metrics for Base, a cutting-edge Ethereum Layer 2 network developed by Coinbase using the OP Stack.

    Base Mainnet represents an innovative advancement in the realm of blockchain networks, focusing on creating a scalable and efficient platform for decentralized applications (dApps) and financial ecosystems. Engineered to ensure swift and secure transactions, Base leverages a unique consensus mechanism that combines high throughput with uncompromised security, effectively transforming Ethereum into a more scalable ecosystem.

    A testament to Base's capabilities is its adoption of the OP Stack, a sophisticated technological foundation developed by Coinbase to bolster the network's performance. This strategic implementation empowers Base to handle a substantial number of transactions while maintaining exceptional efficiency and security.

    One of the cardinal indicators of a blockchain network's success is the growth of its daily active users (DAUs). This metric encapsulates the number of distinct users who engage with the network on a daily basis, serving as a definitive gauge of adoption and utilization. In the context of Base Mainnet, the trajectory of DAU growth serves as a compass pointing towards the network's vitality. Increased engagement with dApps and financial structures translates into heightened transaction volume, thus generating heightened demand for the network's native token, further fueling Base's momentum.

    The crux of our endeavor lies in scrutinizing the daily active users on the Base Mainnet by Coinbase, unearthing insights into the epicenter of network activity and the demographic segments witnessing burgeoning user participation. This analytical venture facilitates the identification of prominent dApps and transaction-intensive sectors within the network. Simultaneously, it arms developers and stakeholders with informed perspectives to guide their strategic involvements.

    In summation, the Base Mainnet by Coinbase stands as an exemplar of speed and security within the domain of blockchain networks, tailored to accommodate decentralized applications and financial landscapes. The evolution of daily active users on the network resonates deeply with its triumphs, offering a conduit to gain deep-seated insights into adoption patterns and network usage. Our dashboard extends an interactive lens to observe and dissect the dynamics of daily active users on the Base Mainnet, empowering users with insights crucial to their network engagement decisions.

    Methodology

    Through this dynamic dashboard, you can seamlessly access real-time data regarding the active user count on the Base Mainnet by Coinbase, coupled with their engagement metrics spanning across NFTs, swaps, and transfers. Employing advanced data analytics methodologies, this dashboard orchestrates an intricate exploration of user activity trends and patterns within the Base network.

    Navigating the dashboard's interface, you'll unearth pivotal insights into the most vibrant sectors operating within the network, meticulously pinpoint the epicenters of transactions, and discern the network's performance benchmarks. The dashboard's array of tools equips you with a multifaceted perspective on the network's inner workings.

    In sum, our dashboard unfolds as a potent instrument for unraveling the intricacies of the Base Mainnet by Coinbase. This meticulously designed data analytics toolkit empowers you to make well-informed decisions about your network involvements, whether you're a developer, investor, or an enthusiastic observer of blockchain innovations. With a finger on the pulse of the latest trends and developments, our dashboard stands as an indispensable resource, opening doors to the full potential of the Base network.

    Insights

    Transfers Analysis:

    • The network has experienced a rapid increase in transfer activity, witnessed in both daily active users (DAUs) and non-DAU participants.
    • While non-DAU users currently outnumber DAUs in the transfer domain, both segments exhibit a substantial growth in engagement.
    • DAU users are driving transaction volume, executing a significantly higher number of transfers compared to non-DAU users.
    • The consistent surge in new DAUs embracing transfers indicates a promising expansion of the network's user base.

    Swapping Insights:

    • Swapping activities initiated just two weeks ago, revealing an evolving landscape.
    • A larger proportion of current swappers are non-DAU users, showcasing a growing interest in the swapping ecosystem among newcomers.
    • Despite fewer DAUs in this domain, their swapping activity is on the rise, whereas non-DAU users have experienced a decrease.
    • An influx of new DAUs engaging in swapping underscores a sustained curiosity in exploring this aspect of the network.

    NFT Activity Overview:

    • The NFT realm showcases a significant presence of passenger users, with an upward trend in non-DAU engagement since July.
    • While DAUs remain relatively limited in number within the NFT space, their contribution to NFT activity surpasses that of non-DAU users.
    • A marked increase in DAU-driven NFT activity is evident, with a noteworthy spike observed in the past week.
    • The consistent rise in new DAUs venturing into NFT engagement signals a growing appetite for NFT exploration.
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