- Coinbase is experiencing transaction failures on its Ethereum scaling solution Base due to congestion from increased network activity after the recent Dencun upgrade
- Daily transaction volume on Base has surged to over 2 million following the 90%+ fee reductions from Dencun, making layer-2 networks much more accessible
- Coinbase has advised customers to wait for network congestion to clear before resubmitting failed Ethereum transactions on Base
Coinbase is experiencing issues with transactions failing on its Ethereum scaling solution, Base, due to a spike in network activity. This comes just weeks after trading demand crashed the exchange.
Coinbase Confirms Issues
The exchange’s status page acknowledged the network congestion problems on Base, advising customers to wait before resubmitting transactions. This is likely connected to the recent Ethereum Dencun upgrade, which has dramatically cut fees and boosted usage of layer-2 networks like Base.
Transaction Volume Surges on Base
According to blockchain data, Base has seen a huge leap in daily transaction volume following Dencun. It hit a record high of 2.12 million transactions on Saturday, up from around 400,000 before the upgrade. The 90%+ fee reductions have made layer-2 networks exponentially more accessible.
Conclusion
Coinbase has confirmed intermittent transaction failures due to congestion on Base. This spike in activity comes on the heels of Ethereum’s Dencun upgrade, which has made layer-2 networks like Base much cheaper to use. The exchange advised customers to wait for congestion to clear before trying transactions again.
