Base active addresses jump 49.9% on a GMGN fresh-wallet contest as user fees fall

Base recorded 943,277 daily active addresses on Oct 22, a 49.9% one-day increase, as it hosted a GMGN trading competition that required new wallets. GMGN launched its Base track on Oct 21 with a $20,000 prize through Oct 26; entrants had to register wallets with no funds, holdings or trading history and trade only through GMGN. On Oct 22, user-paid fees fell 20% to about $91,059 and transactions dropped 8.6% to 9.58 million. Addresses had risen 82.5% to 629,142 by Oct 21, before slipping 38% to 584,540 by Oct 23, still 65.8% above the pre-surge median. Growthepie, which tracks daily sending addresses, warns Sybil wallets can inflate active addresses and says the metric should be read with chain revenue.