Coinbase’s L2 Blockchain Base Skyrockets 111% in 41 Days, Overtaking Solana in TVL

According to statistics, Coinbase’s Layer 2 (L2) blockchain, built connected Ethereum and utilizing Optimism’s open-source OP Stack, has grown importantly successful the past 41 days. Since August, erstwhile the level had a full worth locked (TVL) of $175 million, the fig has accrued 111% to $370 million.

Layer Two Base Chain Sees Continued Growth

The L2 blockchain crafted by Coinbase is present the ninth-largest blockchain successful presumption of TVL by network. It has surpassed Solana successful presumption of TVL arsenic defillama.com statistic amusement Base’s TVL is $370.29 cardinal portion Solana’s is $310.43 million.

Base is besides supra Cronos, Kava, Defichain, Bitcoin, Fusion, Pulsechain, and Cardano successful presumption of TVL size. Base’s worth locked is astir 0.96% of the $38.14 cardinal TVL crossed the full decentralized concern (defi) ecosystem.

Data from Dune Analytics indicates that since the L2 launch, Base has bridged a full of $426.81 million, with 143,467 ether making up 54.4% oregon $232.19 cardinal of that value. Approximately 115,993,548 USDC stablecoins person been bridged, accounting for 27.2% of the assets moved to Base.

Additionally, 25,276 CBETH, Coinbase’s wrapped ether derivative token, represented 10% of the full worth bridged to Base implicit time. Other cryptocurrencies bridged see DAI, CRVUSD, THALES, and CRV.

There are 123 protocols connected the Base L2 chain, and Base boasts astir 61,319 progressive users. The decentralized exchange, Aerodrome, holds the favoritism of having the largest full worth locked connected Base astatine $114.2 million.

Friend.tech follows with a full worth locked of $35.08 million, portion Stargate, contiguous connected 10 different unsocial blockchains, has $24.6 million. Curve Finance, which besides operates connected Base, reported a full worth locked of astir $24.6 cardinal arsenic of Sept. 21.

In the realm of non-fungible tokens, 177,717 Base users person minted a full of 58,970,276 NFTs to date. Dappradar metrics bespeak that dapp volumes connected Base person settled $2.33 cardinal successful worth since the L2’s inception.

What bash you deliberation astir Base’s maturation implicit the past 41 days? Share your thoughts and opinions astir this taxable successful the comments conception below.