- Coinbase’s Layer-2 solution, Base, surpasses major competitors in transaction volume and total value locked (TVL).
- Base outpaces both Ethereum
and Arbitrum in monthly transactions, reaching 50.34 million. - Analysts note a significant increase in meme token activity on Base, contributing to its growth.
Base, Coinbase’s Ethereum Layer-2 blockchain, experiences a surge in TVL and transaction volume, surpassing key rivals. Experts analyze meme token influence on the platform.
Base Overtakes Market Leaders, Fueling Layer-2 Competition
Base, the Ethereum Layer-2 blockchain developed by Coinbase, has demonstrated impressive growth in recent weeks. It has outperformed both Ethereum and Arbitrum in 30-day transaction volume, reaching 50.34 million transactions. Additionally, its total value locked (TVL) has exceeded $4 billion—a 13.2% increase in the past week alone.
TVL and Transaction Metrics Signal Growth for Base
According to L2BEAT data, Base now ranks as the third-largest Ethereum Layer-2 solution in terms of TVL. Base has seen consistently positive growth in its TVL, even as competitors like Starknet, Optimism, and Arbitrum experienced declines. This success signifies increasing user adoption and trust in the platform.
Ethereum Scaling Solutions and Network Activity
Base’s high transaction volume and TPS (transactions per second) further underscore its rising popularity and utility within the Ethereum ecosystem. Layer-2 solutions like Base are becoming crucial for addressing scalability challenges on the Ethereum network and providing users with faster, more cost-effective transactions.
Memecoin Influence and Future Outlook
CoinGecko data reveals that increasing meme token activity on Base is contributing to its market capitalization of over $1.6 billion. Analysts are closely watching how this trend shapes the platform’s trajectory. Continued momentum for Base could further intensify competition among Ethereum Layer-2 networks.
Conclusion
Base’s recent performance signals significant adoption within the Ethereum community. Increased transaction volumes, rising TVL, and a growing meme token sector mark Base as a major player in the Layer-2 landscape. As Ethereum scaling solutions continue to evolve, Base’s progress will be a key indicator of the overall health and direction of this critical sector.
Source: https://en.coinotag.com/base-surges-past-ethereum-arbitrum-in-transactions-tvl-hits-4b/