Base Dominates Ethereum Transaction Volume Amidst Shift in Rollup Economics

The Base network has dominated transaction volume on Ethereum since its growth began in October 2024. The network processed 292 million user operations for the 30 days ending September 7, 2026, paying only $8,800 in fees to Ethereum. This small amount is a significant shift from before the Dencun upgrade in March 2024, when Base earned approximately $94 million in revenue from user fees while paying only $4.9 million to the Ethereum base layer.

The network's growth has been remarkable, with its total value locked (TVL) increasing from $2.1 billion in October 2024 to $14.42 billion by September 2026 - a five-fold increase in just 18 months. This growth happened without aggressive token incentive programs, and the network now leads in transaction volume among Ethereum rollups.

The median transaction cost on Base was $0.0015 per operation as of September 15, 2026, compared to $0.0053 for Arbitrum One. Base's TVL edges past Arbitrum One's $12.6 billion, meaning the two networks together control $27 billion in value.