Coinbase's Base Blockchain Sees $175M In Transfers, Surpasses Optimism In Daily User Count

The newly launched social network platform, Friend.Tech, operating on Coinbase Global Inc's (NASDAQ: COIN) Base blockchain, has witnessed a surge in daily active users, reaching an impressive 136,000.

After a subdued debut on Wednesday, which garnered only $10 million in new inflows on its inaugural day, Base has now surpassed the Optimism (CRYPTO: OP) blockchain, in daily user count, as per data from Dune Analytics, Coindesk reported.

It's inching closer to Arbitrum's (CRYPTO: ARB) user tally, which stands at 147,000, as revealed by tokenterminal statistics.

Since its launch, Base has seen a transfer of cryptocurrencies amounting to $175 million, with a significant 580,000 transactions recorded just on Thursday.

Friend.Tech is credited as a key driver of this activity. This innovative platform offers users the opportunity to buy or sell shares associated with prominent Twitter personalities.

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Currently in its beta phase, Friend.Tech requires a specific sign-up code for access.

A yet-to-be-unveiled section on the app hints at a forthcoming token release.

This has ignited a wave of excitement among users, many of whom are sharing referral codes in hopes of benefiting from a potential airdrop.

However, this sudden spike in user registrations led to a temporary server shutdown on Thursday due to the overwhelming demand.

Coinbase's Base, an Ethereum (CRYPTO: ETH) layer 2 blockchain, was developed using the Optimism software framework and is a product of Coinbase's incubation efforts.

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