Optimism DEX Velodrome Generates Record Weekly Fees Following Coinbase Announcement

The recent move in all-time weekly fees follows Coinbase’s announcement last week launching Base, another layer two network built using Optimism tech, which has sparked interest in Optimism’s ecosystem. The price of Velodrome’s native token VELO, which has a market capitalization of roughly $62 million, has soared 84.3% in the past seven days, despite sliding 8.6% in the past day at time of press, per CoinGecko. In the same week, Velodrome had $263 million in weekly trading volume, a six-month high.