TL;DR
- Base, Coinbase’s Layer-2 network, has achieved a Total Value Locked (TVL) of $1.426 billion and a stablecoins market capitalization of $3.368 billion.
- In the last 24 hours, Base has recorded a trading volume of $524.78 million and inflows of $8.66 million.
- The network has 1.1 million daily active addresses, surpassing many competitor networks in terms of activity and adoption.
Base, Coinbase’s Layer-2 network, is rapidly standing out in the Ethereum ecosystem with impressive performance.
Launched less than a year ago, the network has achieved an impressive Total Value Locked (TVL) of $1.426 billion, along with a stablecoins market capitalization of $3.368 billion, according to DefiLlama data.
These figures highlight Base’s success in attracting liquidity and its growing importance within the Layer-2 space.
The daily trading volume on Base is notable, reaching $524.78 million in just 24 hours, while inflows to the network total $8.66 million.
These figures reflect intense activity and sustained interest from users and investors.
Additionally, Base has recorded approximately $48,293 in fees and $47,954 in revenue during the same period, demonstrating its ability to generate significant revenue and maintain a healthy economy within the network.
One of the most impressive aspects of Base is its ability to attract users, with 1.1 million active addresses in the last 24 hours.
This figure highlights the growing user base of the network, surpassing many of its competitor networks in terms of activity and adoption.
The lack of a native token in Base, unlike other Layer-2 networks like Arbitrum and Optimism, has not impeded its rapid expansion and success.
Innovations and Future of Base
In terms of innovations, Base has recently launched the concept of “Basenames”, a tool designed to simplify the user experience by transforming complex hexadecimal addresses into readable and user-friendly names.
Basenames are built using the infrastructure of Ethereum Name Service (ENS), allowing users to manage and use addresses more intuitively, similar to how subdomains are managed on traditional websites.
This feature not only enhances the usability of the network but also positions Base as a leader in simplifying blockchain interaction.
The adoption of Basenames is expected to facilitate the integration of new users and improve the overall experience within the Ethereum ecosystem.
In conclusion, Base is proving to be a formidable competitor in the Ethereum Layer-2 space.
Its impressive growth in TVL, user activity, and trading volume, along with innovations like Basenames, indicates that the network has a bright future and will continue to play a crucial role in the development and expansion of the Ethereum ecosystem.
