Morpho (MORPHO) Records the Highest Weekly Trading Volume

Decentralized finance (DeFi) platforms have emerged as the primary drivers of transaction volume and user engagement on Base, a Layer 2 blockchain network.

Data from DappRadar shows that decentralized finance (DeFi) platforms are emerging as the primary drivers of transaction volume and user engagement on Base, a Layer 2 blockchain network.

The latest figures, published on April 10, highlight the dominant role of DeFi protocols, particularly in lending and trading services, within the Base ecosystem.

Morpho Records Highest Trading Volume Among All dApps on Base

Morpho (MORPHO), a decentralized lending protocol, recorded the highest weekly trading volume out of all decentralized applications (dApps) on Base. The platform registered $1.33 billion in trading volume over the past week.

TOP #BASE DAPPS BY WEEKLY VOLUME

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This volume point places Morpho ahead of competing platforms, such as Uniswap and Sushi, which are usually ranked among the top dApps by transaction volume. The figures highlight the increasing demand for decentralized lending services within the Base ecosystem.

Completing the Top 5 dApps by Volume on Base

The data also shows that decentralized exchanges (DEXs) remain highly active on Base, with Uniswap versions leading to user engagement and transaction volume.

Uniswap V2 (UNI) followed Morpho in weekly trading volume, reaching $451.56 million. While this figure places Uniswap V2 second on the list, it recorded the highest number of unique active wallets (UAW) among all dApps except Uniswap V3. The platform engaged 538,670 wallets during the same period.

Sushi (SUSHI) maintained its position as the third decentralized exchange in terms of weekly trading volume by recording $320.86 million. Despite having a low $9.01 million balance in smart contracts, Sushi stayed third in the weekly trading volume.

The decentralized aggregator Odos (ODOS) was one of the 5 top dApps with a weekly trading volume of $151.69 million.

Moonwell (WELL) maintained close proximity to Odos (ODOS) as a lending protocol with a volume of $145.13 million. Moonwell’s smart contract balance achieved $28.33 million to facilitate network-based lending operations.

Uniswap V3 Records Highest Wallet Activity

The data obtained from DappRadar demonstrated that Uniswap V3 (UNI) achieved the greatest number of individual wallet users on Base app with 1.33 million within the week.

This statistic highlights the significant user engagement with Uniswap V3, despite its relatively lower trading volume compared to other dApps. The figures suggest that Uniswap V3 is engaging a broader range of users despite having a smaller transaction volume.

Uniswap V4 (UNI) also appeared on the list with a weekly trading volume of $92.21 million, while decentralized exchange 1inch (1INCH) posted $110.48 million in volume, supported by 31,580 unique active wallets.

The weekly trading volume at Stargate Finance (STG) reached $67.17 million. The STG smart contract maintained a high balance of $140.60 million to establish liquidity across multiple protocol networks.

Workflow DeFi project Balancer (BAL) finished as the tenth most active Base dApp with $59.87 million in weekly transactions.