Coinbase's Ethereum layer-2 network, Base, briefly became the number one in stablecoin volume, surpassing Solana.
Base recorded a record transaction of 5.6 million in 24 hours, capturing 30.06% of the stablecoin transaction volume.
Circle CEO Jeremy Allaire mentioned that if Base's current activity continues, the annual USDC transaction volume on that network could reach $6.6 trillion.
Base's activity has now decreased to 20.8% of the stackcoin transaction market, slightly above Solana.