CDS Crypto News Crypto News Today- Coinbase L2 platform Base exceeds Optimism, achieving a new record with $8 billion in total value locked
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Crypto News Today- Coinbase L2 platform Base exceeds Optimism, achieving a new record with $8 billion in total value locked

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Coinbase L2 platform Base exceeds Optimism, achieving a new record with $8 billion in total value locked

Crypto News Today- Coinbase L2 platform Base surpasses Optimism, reaching a new milestone with $8 billion in TVL

Crypto News– Coinbase’s layer-2 (L2) solution, Base, has hit a new milestone. In just a few days, the platform’s total value locked (TVL) surged past $8 billion, overtaking one of its main competitors, Optimism.

This accomplishment highlights Base’s swift rise in the competitive landscape of Ethereum-based L2 solutions. It also firmly establishes its role as a significant player in the blockchain ecosystem.

Base Tops Ethereum L2s in Both Transactions and Profits

ed on data from L2Beat, as of June 10, Base’s total value locked (TVL) reached $8 billion. This sum includes $2.14 billion in bridged value and $5.92 billion in native tokens created on the blockchain. This recent milestone places Base just behind Arbitrum One, which boasts a TVL of $18.27 billion.

Crypto News Today- Coinbase L2 platform Base exceeds Optimism, achieving a new record with $8 billion in total value locked
Crypto News Today- Coinbase L2 platform Base exceeds Optimism, achieving a new record with $8 billion in total value locked 1

Since its launch in August last year, Base has experienced impressive growth. By February 27, the platform had already reached $1 billion in total value locked (TVL), which has since increased eightfold in just 104 days.

Over the past month, Base has averaged 30.36 transactions per second (tps), leading all Ethereum L2 solutions. In comparison, Arbitrum One averages 23.52 tps. Altogether, Base processed 64.86 million transactions in the last 30 days.

Base also stands out in terms of profitability. According to Dune Analytics, the platform generated the highest on-chain profits over the past three months, including a record $16.9 million in March. Although profits dropped 58.6% to $6.98 million in May, Base still remained well ahead of Optimism, which earned only $1.57 million during the same period.

Crypto News Today- Coinbase L2 platform Base exceeds Optimism, achieving a new record with $8 billion in total value locked
Crypto News Today- Coinbase L2 platform Base exceeds Optimism, achieving a new record with $8 billion in total value locked 2

FAQs

How did Base surpass Optimism in TVL?

Base surpassed Optimism in TVL by reaching $8 billion. This growth was driven by a significant increase in both bridged value and native tokens minted on the platform, highlighting its rapid adoption and usage.

What is the significance of Base achieving $8 billion in TVL?

Reaching $8 billion in TVL is a major milestone for Base, showcasing its rapid growth and adoption. It positions Base as a leading layer-2 solution in the Ethereum ecosystem, just behind Arbitrum One in terms of TVL.

For the latest in crypto updates, keep tabs on Crypto Data Space.

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