Base Surpasses Arbitrum in TVL and Transaction Volume Amid Coinbase Smart Wallet Rollout

Base's Total Value Locked (TVL) has surpassed Arbitrum's, reaching $4.53 billion compared to $1.22 billion. In terms of transaction volume, Base is processing over 50 million monthly transactions, exceeding Arbitrum's 40 million. The Coinbase Smart Wallet rollout on Base has contributed significantly to this growth, with the chain recording 8.93 million transactions and 55,780 new addresses in a 24-hour period.

The Coinbase Smart Wallet provides enterprise-grade security for users across various chains, including Optimism, Ethereum, Arbitrum, Polygon, Avalanche, and BNB. It utilizes passkey signers via WebAuthn P-256 and a multi-owner ERC-4337 model to enable features like Sub Accounts and Magic Spend. The tool connects to the 110 million verified Coinbase accounts through platform keychain sync and a multi-owner contract architecture.

Arbitrum, on the other hand, has a mature DeFi ecosystem with established protocols such as Uniswap, Aave, Curve, and GMX. However, it lags behind Base in terms of daily active addresses, with only 250,000 to 300,000 compared to Base's over 1 million.