rfv05
@rfv05
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Coinbase’s Base network struggles with surge in traffic and rising fees Coinbase’s layer-2 blockchain, Base, designed to facilitate lower-fee transactions on the Ethereum network, is currently grappling with a surge in network activity. The increased demand has led to heightened traffic and rising transaction fees, causing disruptions for some users. An official statement on the Coinbase status page revealed that the Base Mainnet is dealing with high traffic volumes, resulting in some transactions being stuck due to fees set too low. Additionally, it was noted that certain wallets, including the Coinbase Wallet, do not support the cancellation of transactions.Base stands as the third-largest layer-2 network on Ethereum in terms of total deposits, holding over $700 million in total value locked, as reported by DefiLlama. This spike in activity coincides with a widespread interest in “meme coins,” digital tokens that have rapidly gained popularity for their internet appeal and potential for quick gai
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