As an experienced analyst in the cryptocurrency space, I find Base’s achievement of crossing the $8 billion TVL mark to be a significant milestone. This growth puts Base in a strong competitive position within the Ethereum layer-2 ecosystem and highlights its potential to drive innovation and scalability for decentralized applications (dApps) and the broader blockchain industry.
As a seasoned Ethereum analysis expert, I’m thrilled to report that the popular layer-2 scaling solution, Base, has recently reached an impressive milestone. With a total value locked (TVL) of over $8 billion, it now surpasses Optimism’s OP Mainnet in this significant metric. This growth underscores Base’s continued success and strong user adoption within the Ethereum ecosystem.
Based on L2Beat’s latest figures, as of June 10, the total value locked (TVL) on Base amounts to $8.08 billion. Out of this sum, $2.14 billion represents assets that are canonically bridged from Ethereum and will be represented on Base, while the remaining $5.92 billion consists of natively minted assets within the platform.
Last week, Base, which is supported by Coinbase, took over the number one position in the Superchain network with the largest chain size. Currently, it holds the second largest Ethereum scaling solution in terms of Total Value Locked (TVL), with a value slightly lower than Arbitrum One’s $18.27 billion.
The television value locked in the network surpassed $1 billion on February 27, merely seven months following its debut in August. Over the past 104 days, it has experienced an impressive eight-fold increase, underscoring its remarkable growth trajectory.
Among Ethereum layer 2 solutions, Base has handled the most transactions per second (TPS) during the last month with a impressive average of 30.36 TPS. This outpaced Arbitrum One’s 23.52 TPS. In total, Base processed an astonishing 64.95 million transactions over the past 30 days.
As a researcher examining the financial performance of Base Layer 2 solutions on Ethereum, I’ve discovered some intriguing data. According to the latest reports from “niftytable” on Dune Analytics, Base has recorded impressive on-chain profits, with a significant milestone of $16.9 million reached in March. Despite experiencing a dip to $6.98 million in May, Base still managed to maintain its lead over other Ethereum layer 2 solutions.
As a researcher studying the cryptocurrency landscape, I’ve observed that despite Base’s impressive growth, it has encountered significant hurdles. The influx of popularity among memecoins drew unwanted attention from scammers, resulting in a staggering 18-fold surge in funds pilfered through phishing schemes between January and March.
Experts at investment firm VanEck anticipate that the total market value of Ethereum’s layer-2 scaling solutions, such as Base, could reach an astounding $1 trillion by the year 2023.
The swift expansion and monetary achievement of Base serve as clear indicators of its significance within the Ethereum community. By leading the charge in developing new functionalities and enhancing scalability for decentralized apps (dApps) and the overarching blockchain sector, Base plays a pivotal role in fostering innovation.
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2024-06-10 09:41