Gasfees data<\/a> shows that Base is the priciest layer-2 protocol among scaling solutions that have implemented the Dencun Upgrade\u2019s Blobs feature. The feature significantly reduces<\/a> transaction fees and enhances throughput for layer-2 networks by allowing for a more efficient and cost-effective way to post rollup data.<\/p>\n Indeed, the average transaction fee on Base hovers between $0.0857 and could reach as high as $0.5582 for an average NFT trade on Seaport compared to the average transaction fee on Optimism<\/a>, which ranged between $0.0009 and $0.0550.<\/p>\n Meanwhile, the blockchain network confirmed<\/a> this high fee situation, noting that it was caused by \u201chigh network traffic.\u201d However, it claimed the problem had been corrected as of press time.<\/p>\n Crypto analyst Kofi attributed<\/a> the situation to heightened bot trading activities willing to pay the \u201chigh priority fees.\u201d<\/p>\n Another on-chain data analyst, Michael Silberling, provided<\/a> a more comprehensive insight into the elevated fee phenomenon. He highlighted automated actors focusing on memecoins and arbitrage opportunities on the Base network as key contributors to the fee surge.<\/p>\n Silberling noted that these traders typically exhibit lower sensitivity to fees than average users, thereby sustaining the elevated network fees on Base due to increased demand.<\/p>\n Notably, a dune analytics dashboard curated<\/a> by analyst Hildobby showed that the number of atomic arbitrage bots on Base had seen an uptick recently.<\/p>\n Base DEX volume surge<\/span><\/p>\n The increased bot trading activity has pushed the daily trading volume of decentralized exchanges (DEXs) on the Ethereum Layer 2 network to a new high of $374 million the past day.<\/p>\n This milestone reflects Base\u2019s growing popularity among crypto traders following the successful completion of the Dencun upgrade. According to data<\/a> from DeFiLlama, transactions on the platform have soared by 71% over the past week, reaching around $1.5 billion.<\/p>\n In addition, the total value of assets locked<\/a> on the network has spiked to a new high of $775 million.<\/p>\n The post Coinbase-backed Base leads in Ethereum layer-2 fees amid trading activity surge<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Coinbase-backed Base has the highest transaction fees among Ethereum layer-2 networks due to the current wave of attention it enjoys among crypto traders. Gasfees data shows that Base is the priciest layer-2 protocol among scaling solutions that have implemented the Dencun Upgrade\u2019s Blobs feature. The feature significantly reduces transaction fees and enhances throughput for layer-2 […]<\/p>\n","protected":false},"author":2,"featured_media":269249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-269248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/269248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=269248"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/269248\/revisions"}],"predecessor-version":[{"id":269251,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/269248\/revisions\/269251"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/269249"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=269248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=269248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=269248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why Base transaction fees spiked<\/h2>\n
![\"Base](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/03\/GJM9v8HXAAAJc1h.jpg\")