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Base Takes Off: Surpasses $4 Billion TVL and Leads in Transactions Coinbase's Layer 2 network, Base, is experiencing explosive growth. Recently, it exceeded $4 billion in Total Value Locked (TVL) and became the third-largest Ethereum scaling solution. This surge in activity positions Base as a significant player in the Layer 2 landscape, rivaling established networks like Arbitrum One and Optimism. Key Drivers of Growth: - High Transaction Volume: Base's impressive TVL is fueled by a surge in decentralized exchange (DEX) activity, with daily trading volumes exceeding $1 billion. - DEX Popularity: The Base-native DEX, Aerodrome, has seen its TVL skyrocket by over 380% in just nine weeks, attracting users with its efficient and user-friendly platform. - Memecoin Mania: While memecoin trading contributed to the initial spike in network activity, the sustained growth suggests a broader adoption trend. - Transactions Per Second (TPS): Base boasts an all-time high of 36 TPS, significantly outperforming Ethereum's 14 TPS and demonstrating its ability to handle increased demand. - 30-Day Transaction Count: With over 50 million transactions in the past 30 days, Base leads the pack, surpassing both Arbitrum One and Ethereum. Future Prospects: We are eagerly anticipating the launch of Coinbase's smart wallet, which will be compatible with all EVM networks, including Base. This move is expected to accelerate user adoption further and solidify Base's position as a leading Layer 2 solution. Additionally, Coinbase's plans to migrate customer and corporate USDC balances onto Base indicate a strong commitment to the network's long-term success. Base's impressive growth trajectory and strategic initiatives position it as a major contender in the Layer 2 space. Its ability to attract users, facilitate high transaction volumes, and integrate seamlessly with Coinbase's ecosystem makes it a network to watch in the coming months.
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6moStill holding my $AERO 👀🙏 what’s funny is that coinbase anticipated the meme mania and created Toshi themselves, super interesting to see it in the space launched properly and being prepared way before the bull!