In spite of a broader unfavorable market, the Base network seems to have found a space of freedom in which it can grow and be adopted.
Using its technical attributes (mostly stemming from being an Ethereum L2), Base appears to have a foothold in the market and has even captured a nice amount of market share since its launch last year. That is, if it has captured any market share, it is quite a lot for an L2 in an unfavorable market, and it is doing this while remaining somewhere near the top among not just L2s but new projects in the Ethereum ecosystem.
IntoTheBlock’s data shows Base’s proportion of active addresses compared to other Layer-2 blockchain solutions. And they’re good numbers. Base now has 82.3% of its total active address count compared to the other Layer-2 solutions. And that count is up from 63% in October when the last clear read was available. Base itself has grown in total active addresses as well, and daily active addresses on Base rocket passed 1 million earlier this week.
Moreover, Base’s daily activities have reached unprecedented levels, averaging over 4 million transactions per day. This is a visible and demonstrable sign that the infrastructure of Base is not only scalable but is smoothly and efficiently handling the growing amount of activity. These figures are not only an indication of how solid Base is but also how well it can scale and adapt to its ever-growing user base while powering decentralized applications (dApps), DeFi projects, and other blockchain-based innovations.
A New Era of On-Chain Activity and Innovation
Base is increasing in adoption because it is committed to innovation. Recently, it introduced Basenames, a new feature that has spurred on-chain activity and engagement, and is solidifying Base’s leadership position. Basenames is expected to create a new opportunity for users and developers on the network and is adding even more customization than before for decentralized applications. Basenames is the first feature of its kind in web3 and has the potential to open up entirely new branding and user experience opportunities across the decentralized web.
Such features are important. And in a cutthroat competition among the countless Layer-2 contenders where Base is even a participant, the ability to mount features that engage users and drive new usage is a critical point of differentiation. Many Ethereum Layer-2 networks offer similar scalability and lower transaction costs. But when it comes to consistently delivering engaging new features, Base leaves the other Layer-2 solutions behind.
These features provide new ways for developers to engage with the blockchain, which ultimately means that end users get enhanced experiences and better applications.
For users, these upgrades to the Base blockchain mean increased functionality and modern usability.
Combined together, these factors have led a number of users to convert to using Base.
The Rise of Base’s Total Value Locked (TVL)
Besides boasting an impressive active address count and daily transaction count, Base’s Total Value Locked (TVL) has soared past $6.3 billion, further accentuating the network’s burgeoning dominance in the Ethereum scaling ecosystem. TVL is a vital metric in the decentralized finance (DeFi) world as it amounts to the total assets that are staked or invested in DeFi protocols. The higher the TVL, the better in terms of trust, liquidity, and a healthy ecosystem.
Activity on @base remains strong , even with market headwinds.
According to @intotheblock , Base’s share of active addresses
Among top L2s has jumped from 63% in January to 82% today.
The network also passed 1 million daily active addresses,
With daily transactions topping… pic.twitter.com/GlDue0Tlnf
— Pinnacle Crypt ₿ (Enchanter-arc) 💎🥷🦾 (@PinnacleCrypt) April 23, 2025
Reaching a total value locked of more than $6.3 billion reflects growing trust in Base. The network’s DeFi capabilities are what attract liquidity from both retail and institutional investors. Base has become the go-to network for DeFi projects that mostly need two things: speed and low costs. Certainly, operating on Ethereum comes with certain scale challenges. But right now, Base seems one of the safest bets for trying to develop an efficient and effective Ethereum DeFi project.
The increase in TVL doesn’t merely reflect the strength of the network but also highlights its increasing influence within the larger DeFi world. More and more, DeFi users are gravitating toward Layer 2 solutions as a way to experience engaging with the Ethereum network without the high gas fees and slow transaction speeds that the base layer has increasingly been suffering from. Base has filled that gap, serving as a Layer 2 solution that addresses Ethereum’s main problem of scalability.
Base: The L2 Leader of Tomorrow
Base is clearly positioned to lead the way among Ethereum Layer-2 solutions, as shown by its fast growth in several key metrics:
– Active addresses:
The number of unique addresses using the Base network has grown rapidly to over 1 million this month.
– Transaction volume:
The volume of transactions happening on Base has also increased. That’s largely a factor of all the new users who are starting to use the network, but the amount hasn’t slowed down either.
– Total value locked:
The volume and value of what’s being used on Base has also risen sharply. In fact, the over 5 million in value added on just this past Tuesday (March 7) might be a record amount for Layer-2 systems in a single day.
Base’s rise represents a new chapter in the Ethereum ecosystem. L2 solutions such as Base are becoming vital in powering the next generation of decentralized applications and in giving the current generation a long-overdue performance boost. As users and developers rush to Base for its efficiency, scalability, and low costs, the network is poised to maintain its leadership position and to further its solidification in the future of blockchain infrastructure. With fresh on-chain activity driven by innovative features like Basenames and a going-star-up TVL, Base is undeniably leading the L2 space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/base-network-soars-despite-market-challenges-leading-l2-with-1-million-active-addresses-and-6-3b-tvl/