Base Loans Soar Past $2.75 Billion Amid Crypto Credit Boom

Crypto lending activity surged in late August, leading to a record-breaking $2.75 billion in outstanding loans on Base as of September 10.

According to reports from Artemis, this significant growth is largely attributed to the increasing popularity of credit on Coinbase's Layer 2 network.

Morpho and Aave are among the top lenders, with their share of lending activity contributing to the rapid expansion of Base's loan portfolio.