Base, the layer two scaling solution from Coinbase, has gained immense popularity in six weeks. Its total value locked (TVL) has surged to almost $400 million, surpassing even the Solana blockchain in TVL.

Coin base’s Layer 2 Scaling Network Surpasses Solana in Total Value Locked (TVL)

Base, developed by Coinbase and Optimism, is a layer two network on Ethereum that provides developers with a secure and affordable way to create on-chain solutions. Despite its success in the crypto market, Base has faced some challenges, such as glitches before its public launch and a recent interruption in block production.

However, its TVL has increased by 111% in the past month, surpassing Solana in transaction volume and overtaking other popular chains like Cronos, Bitcoin, and Cardano.

From Zero to Hero: Base Achieves Massive Growth in Just Six Weeks

Base’s growth was initiated by the launch of Aerodrome, a decentralized exchange that brought in $190 million to the network. The popularity of Friend. Tech, a decentralized social app, has also contributed to Base’s growth, with a current TVL of $38.6 million.

Some projects with a significant TVL stake include Stargate, Curve DEX, and Compound V3. While Ethereum still leads in terms of TVL, the next few months will be essential in determining if Base can maintain its momentum and gain mainstream traction. If it continues at its current trajectory,

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The base could exceed $500 million in TVL in the coming weeks and establish itself as a leader in layer-2 scaling networks. BaseScan reported that the number of daily transactions on Base reached a new high of 1.88 million on September 14. The layer-2 network has processed more than 40.31 million transactions as of writing.

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