- Base has seen highest fees among Ethereum layer-2 networks due to increased bot trading activity after upgrading to reduce costs
- Analysts attribute elevated fees to bot trading focused on memecoins and arbitrage, driving demand and sustaining high network fees
- Bot trading activity pushed daily DEX volume, transactions, and total value locked on Base to new highs as it establishes itself as a top scaling solution
Coinbase-backed Base has seen the highest transaction fees among Ethereum layer-2 networks due to increased bot trading activity. The high fees reflect Base’s growing popularity for crypto trading after upgrading to reduce costs.
Base Fees Spike Explained
Crypto analyst Kofi attributed the elevated fees to heightened bot trading willing to pay high priority fees. Analyst Michael Silberling provided more insight, noting automated traders focused on memecoins and arbitrage driving demand and sustaining high network fees. A dashboard showed atomic arbitrage bots on Base have increased recently.
Base DEX Volume Surge
The bot trading activity has pushed daily DEX trading volume on Base to a new high of $374 million. Transactions on Base have surged 71% in a week, reaching around $15 billion as popularity grows after the upgrade. In addition, the total value locked on Base spiked to a new high of $775 million.
Conclusion
In summary, the spike in fees on Coinbase-backed Base reflects growing popularity among crypto traders following a successful network upgrade. Increased bot trading activity has driven record DEX volumes, transactions, and total value locked on Base as it establishes itself as a top Ethereum layer-2 scaling solution.
