base just hit all-time low active addresses. regressed to july 2024 levels after 20 months of coinbase pouring hundreds of millions into it. 500k DAUs vs arbitrum's 1.2m and optimism's 800k. USDC velocity doubled and x402 settlement dominance at 75% though. it's becoming a high-value settlement pipe for payment corridors, not a consumer chain. the problem is structural. no native token means no ecosystem flywheel, no switching costs, no developer alignment. arbitrum has GMX and $ARB staking. optimism has su ...

👥🆙 ICYMI: @MoonwellDeFi's DAUs on @base are up by ~210% in the past year. https://t.co/H41IGuPfP9 ...