Base active addresses jump 50% while transactions and fees fall

24 Oct 2026

24 Oct 2026, 05:09 UTC+02:00

Base looks busier by one measure and quieter by others. Active addresses on Coinbase’s layer 2 network rose about 50% on 22 October to 942,313, according to data reported by The Defiant, a day after an 82.5% jump to a 30-day high.

The divergence

The address surge did not come with more activity. Transactions fell 8.7% to about 9.57 million on the same day, and dollar denominated user fees dropped 20% to roughly $87,572. More wallets were doing less, on average, and paying less.

The likely cause

The jump coincided with a trading competition run by GMGN, a popular onchain trading terminal, which required participants to use fresh wallets and runs through 26 October. Competitions and airdrop campaigns that reward new wallets can inflate address counts quickly, because one person can create many addresses. Data platform growthepie’s dashboard similarly showed active addresses up sharply week on week while transactions and fees declined.

Why the metric matters

Active addresses are one of the most quoted measures of blockchain adoption, but they are easy to game. Fees and transaction counts are harder to fake because they cost money, which is why analysts look at several metrics together. For Base, the real test is whether activity holds once the GMGN contest ends.

The broader market was calm at the time, with ETH trading near $2,400 and the crypto Fear and Greed Index at a neutral 50, according to Basis Desk.

What it means for traders

• Read onchain data critically: a spike in addresses during an incentive program is not organic growth.
• Base remains cheap to use: falling fees are good news for users moving funds.
• Check Base support: see which exchanges support Base deposits and withdrawals in our crypto exchange fee index and our exchange comparison.

Sources

• The Defiant: Base Active Addresses Jump Another 50% as Transactions and Fees Fall
• Basis Desk: Base Active Addresses Jump 50% as Fees Fall
• growthepie: Base Metrics Dashboard

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