Base, an Ethereum layer 2 network developed by Coinbase, recorded a significant rise in daily transactions following the successful deployment of Dencun on the Ethereum mainnet.

Blockchain data shows that daily transactions on Base surged to 2.1 million on March 16, roughly a day after Dencun went live. Meanwhile, active accounts on Base rose to 855,191 on the day, compared to 248,555 a day prior. 

Last week, Unchained reported that Dencun had resulted in a drastic reduction in layer 2 networks’ transaction fees, with Optimism-based chains such as Base seeing the biggest benefits. 

“Since the Dencun Hardfork of Ethereum went live, the gas fees associated with minting addresses on Base via PropyKeys went down by over 100x,” tweeted Natalia Karayaneva, the CEO of PropyKeys, a protocol that facilitates minting and trading real world addresses onchain, built on Base. 

Base creator Jesse Pollak also noted that the average amount of transactions per second was five times higher than what it was before the Dencun hard fork in an episode of Unchained last week.

 

While transaction activity on Ethereum layer 2 networks has accelerated since the upgrade and gas fees have fallen,  on Ethereum mainnet gas fees remain high with a swap on the Uniswap decentralized exchange (DEX) amounting to around $16 on Ethereum at the time of writing, according to data from GasFees.io.

March 18, 05:08 am ET: This story has been updated to clarify that swap gas fees cost $16 on Ethereum mainnet not layer 2 networks.

March 20, 12:20pm ET: The transaction information has been corrected in the lede of this story.