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- Coinbase’s Base network continues to break records.
- Base has increased its total value locked (TVL) by 20% since early May, reaching $1.7 billion.
- This growth has made Base the largest chain in the Superchain ecosystem, surpassing OP Mainnet in terms of TVL.
Discover the latest developments in Coinbase’s Base network as it surpasses significant milestones, becoming a leading chain in the crypto world.
Base Network Sees Remarkable Growth in TVL
The Layer 2 Ethereum network, Base, developed by Coinbase, has seen its TVL soar by 20% since early May, reaching an impressive $1.7 billion. This remarkable growth has positioned Base as one of the top three chains with the highest deposits in decentralized applications (dapps).
Base Surpasses OP Mainnet in TVL
According to DeFiLlama, Base’s Layer 2 network now holds a TVL of $1.7 billion, reflecting a substantial increase since May. This leap has allowed Base to overtake OP Mainnet, making it the largest chain within the Superchain ecosystem, developed using the OP Stack software suite.
Meme Coins Contributing to Base’s Popularity
The Base network has seen the rise of popular meme coins like PeiPei, Brett, and BRETARDIO, which have contributed to its increasing TVL. Additionally, decentralized exchange Aerodrome has significantly bolstered Base’s TVL with $714 million in deposits, followed by Uniswap with $312 million.
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Conclusion
In summary, the rapid growth of Coinbase’s Base network highlights its potential in the blockchain ecosystem. With a soaring TVL and surpassing key competitors, Base is carving out a substantial presence in the decentralized finance landscape. This trend sets a promising outlook for future innovations and developments within the network.
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