Base Hits $2bn TVL, Solidifying Its Position in Ethereum Layer 2 Market
Coinbase's Layer 2 solution, Base, has reached $2.116 billion in Total Value Locked (TVL), surpassing a milestone that positions it as the second-largest optimistic rollup on Ethereum. This achievement marks a significant increase from its start-of-year figure of $430 million, representing a 370% growth.
Base's TVL includes $3.63 billion in stablecoins and comprises $671.21 million in 24-hour trading volume. It now trails only Arbitrum among optimistic rollups on Ethereum and leads in user activity with the highest number of active addresses and daily transactions among its peers.
The platform has seen rapid growth, with its TVL jumping from $1.6 billion on August 24 to over $2 billion in a short period. Analysts predict further growth for Base, with some suggesting that its TVL could exceed $3 billion by year-end, assuming current momentum continues.