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- Binance U.S now supports ETH and USDC transfers on the fast-growing Base Layer 2 network.
- Base’s daily activity soars with over 1 million addresses and $6.3 billion in Total Value Locked.
- Institutional interest in Base rises as Binance U.S integration boosts credibility and adoption.
Binance U.S has officially integrated the Base network, enabling users to deposit and withdraw Ethereum (ETH) and USD Coin (USDC) directly through the Layer 2 solution. Since this new addition was integrated, users can expect faster transactions and reduced fees.
Despite the general market movement, Base has experienced substantial growth, according to IntoTheBlock statistics. The percentage of active network addresses on Base reached 82 percent in 2023, up from 63 percent in January. Base has reached a milestone by processing more than 1 million active addresses daily and exceeding 4 million daily transactions.
Base has gained significant user trust through its substantial Total Value Locked value which now reaches $6.3 billion while maintaining steady on-chain participation. The figures demonstrate how Base continues expanding its blockchain sector position.
Growing Institutional Interest Boosts Base’s Credibility
The Binance U.S. news announcement has sparked numerous positive reactions from people in the cryptocurrency field. Crypto influencer Velvet Unicorn reports that the institutional backing of Layer 2 networks demonstrates a growing trend, according to his recent statement. According to his observations, Base’s core value lies in its future growth as an interconnected ecosystem rather than relying solely on ETH and USDC support.
An influx of new decentralized finance (DeFi) projects and cross-chain bridges is expected to further strengthen Base’s role in the blockchain space. The emerging technology trends will boost Base into an essential component of the blockchain industry. Binance U.S’s entry into the platform will enhance its credibility while directly impacting user and developer attraction.
The ongoing increase in supported assets will drive Base adoption toward mass-scale adoption. Analysts view this partnership as a strategic initiative that may create substantial changes in developing Layer 2 solutions.
Binance U.S.’s endorsement represents a significant advancement for Base’s goal of wider market acceptance. Incited by increased activity and institutional demand, Base remains a leading Layer 2 solution in the Ethereum network.
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