Base Surges Over $4 Billion TVL, Outpacing Competitors Arbitrum and Optimism
Base's TVL Soars Past $4 Billion
Base, the Ethereum layer-2 (L2) project launched by the US-based crypto giant Coinbase, has vaulted past the $4 billion TVL mark. The project reached a TVL of $4.15 billion, outperforming older L2 chains like Arbitrum and Optimism.
Base Overtakes Arbitrum and Optimism in TVL Growth
Drawing on the latest data from L2Beat, Base's TVL comprises $2.69 billion in natively minted value, $3.69 million in externally bridged value, and $1.45 billion in canonically bridged value. This represents a nearly 14% growth in TVL over the past seven days.
While Arbitrum and Optimism remain leaders in overall TVL, Base has shown rapid gains with a surge of approximately 10% in the combined TVL of all scaling projects. Base's latest achievement is noteworthy considering its lack of a native token.
Base's Appeal and Challenges
Base has attracted meme coin activities, increasing interest in the ecosystem. It has also gained attention from serious project developers like Iskra, a Web3 gaming platform. Despite its remarkable growth, Base has faced challenges, including dealing with scam tokens.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.