Base, a delightful little layer-two blockchain dreamchild from Coinbase, has seen its Total Value Locked (TVL) experience a dizzying rise in the past 24 hours following a rather important development.
Now, as if by some stroke of wizardry or perhaps the stars aligning, this surge comes at a time when the regulatory winds in the US are shifting faster than a chameleon on a rainbow, with President Trump’s newly minted pro-crypto stance encouraging industry movers and shakers to step out in bold new ways. Not the sort of thing you see every day, eh?
Base TVL Shoots Up Like a Rocket After Binance.US Decides to Get in on the Action
Hold onto your monocles, for according to DefiLlama (yes, that’s really a thing), Base’s TVL has increased by a cool $557 million. That’s right, from a mere $2.778 billion on Thursday to a jaw-dropping $3.335 billion as of now – a 20% rise in just 24 hours. I’m sure a few wallets just sighed in relief, and maybe a few champagne corks popped too.
Such a surge in TVL can only mean one thing: people are staking, locking, and generally throwing their assets into the Base blockchain like it’s some kind of high-stakes poker game. Trust, activity, and adoption are clearly on the rise, so expect to see even more interest from the crypto faithful. Someone call the CFO – we need more chairs for the investors!
And what’s this? A key player like Binance.US, the American branch of the world’s largest crypto exchange, has decided to jump in and support Base? Well, colour me surprised! Binance.US has given the green light for transfers of Ethereum (ETH) and USDC stablecoins via Base. A very neat trick, if I may say so myself.
“We’re thrilled to announce that Binance.US now supports Base! From today, you can deposit and withdraw Ethereum (ETH) and USDC via Base,” the announcement, which I’m sure is now framed in the Binance.US offices, proudly declares.
Not to be outdone, the exchange teased that more assets might soon join the fray, further encouraging speculation about how deep this integration will go. But for now, you can deposit and withdraw ETH and USDC directly to and from Binance.US via Base. Smooth, isn’t it?
Now, why is this such a big deal, you ask? Well, it’s all about speed and cost, darling. Ethereum’s mainnet, while an impressive beast, is rather sluggish, with a maximum transaction throughput of around 13.2 transactions per second (TPS). Yes, you read that right – it’s about as fast as a tortoise on a leisurely stroll through a sun-dappled park. And with Ethereum’s mainnet notoriously expensive, things can get sticky during peak times. Not ideal for the impatient crypto trader or the financially frugal.
Enter Base, a splendid layer-two scaling solution that processes transactions off-chain, bundling them up like neatly packed luggage before submitting them to Ethereum. This little trick not only boosts transaction throughput but also slashes those pesky fees, making it a rather dashing alternative for users looking to save a few pennies.
With this integration, Binance.US users can now send their ETH and USDC to Base for some good ol’ DeFi fun at a fraction of the cost. I’m sure a few wallets just did a little happy dance.
It’s also worth noting that this development comes just months after Binance.US resumed USD deposits and withdrawals via bank transfer after a two-year hiatus. Ah, the sweet smell of success after a rough patch.
Of course, this all follows the highly publicized SEC lawsuit and regulatory pressure that weighed down on Binance.US in 2023. But now, with the political rhetoric doing a delightful tango in favour of crypto, exchanges seem to be taking bolder and bolder steps.
“We’ve survived the storm, and now we’re here to help crypto thrive and give all Americans the freedom of choice,” said Norman Reed, the interim CEO of Binance.US, no doubt with a self-satisfied smile.
And as if that wasn’t enough, Kraken, another US exchange, has gone ahead and listed BNB. What a time to be alive in the world of crypto!
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2025-04-25 10:58