Base, the Ethereum layer-2 network developed by Coinbase, has surpassed $1 billion in trading volume on decentralized exchanges (DEX) within a 24-hour period. On March 30, Base recorded a trading volume of $1.21 billion, marking a 25% increase compared to the previous day’s volume of $959.63 million.

The majority of the trading activity took place on Uniswap, which accounted for 64.3% of the volume. Other significant contributors were Aerodrome Finance with 9.7% and SharkSwap with 7.8% of the volume. In addition to the surge in trading volume, Base also experienced a rise in daily active users (DAU), increasing by approximately 12.4% from 153,000 to 172,000.

The growing activity on Base comes as memecoins trading on the layer-2 network is heating up. Jesse Pollak, a contributor to Base, shared on X the surge in transactions and active addresses, a signal of growing user activity, on Base.

There are currently no tokens on the Base network with a market capitalization exceeding $1 billion. However, memecoins like Degen (DEGEN) and Brett (BRETT) are leading, with market caps of $589 million and $596 million respectively. DEGEN has rallied by almost two-fold in just one week, after the memecoin launched its own layer-3 chain.