Coinbase's Base Hits $2 Billion TVL, Challenging Layer 2 Rivals

Coinbase's Base has reached a milestone of $2 billion in Total Value Locked (TVL), surpassing its layer 2 rivals. This achievement positions it as the second-largest optimistic rollup in the cryptocurrency market.

Data from DeFiLlama shows that Base's TVL at $2.116 billion, marking a 370% increase from $430 million at the start of 2024. The TVL includes $3.63 billion in stablecoins and comprises $671.21 million in 24-hour trading volume.

Base now trails only Arbitrum among optimistic rollups on Ethereum, with the highest number of active addresses and daily transactions among its peers. Recent data reveals 1.1 million interacting users on Base in a single day, with 8,335 new wallet addresses registered during that period.