Future

Solana

Base

<ul> 
 <li>The majority of the TVL comes from only two native Base projects.</li> 
 <li>Friend.tech’s TVL grew by 540% in the last month, according to DefiLlama.</li> 
</ul> 
Since its August debut, <a href="https://thenewscrypto.com/coinbase-ceo-says-ai-should-not-be-regulated/" target="_blank" rel="noopener noreferrer nofollow">Coinbase’s</a> layer-2 network Base has seen its TVL soar to an all-time high of $397.32 million, beating Solana’s TVL ($358.96 million). According to DefiLlama’s statistics, Base has made remarkable strides in the previous 30 days, with the network’s TVL increasing by a massive 97.21%. The TVL of <a href="https://thenewscrypto.com/solana-sol-price-eyes-22-level-as-bulls-gain-traction/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>, on the other hand, has dropped by 9.64% within the same time period. 
The majority of the TVL comes from only two native Base projects. Aerodrome Finance, a decentralized exchange, has the highest TVL at $97.83 million, while Friend.tech, a decentralized social networking service, stands at $36.53 million. 
<h3 class="wp-block-heading" id="h-major-contribution">Major Contribution</h3> 
Launched on August 28, Aerodrome offers customers a variety of services, including the ability to deposit liquidity in exchange for its native AERO tokens. While Aerodrome’s TVL struggled to attract investors in its first few days, on August 31 the value of the token surged, with $150 million pouring in. 
Its TVL peaked at $200 million on September 2 but has subsequently dropped by around 51%. The early excitement seems to have died out. On August 11, <a href="https://www.friend.tech/" target="_blank" rel="noopener noreferrer nofollow">Friend.tech</a> became available to the public, allowing its users to tokenize their social networks via the exchange of “Keys.” The platform had a huge increase in September after being declared “dead” in late August owing to plunging user activity and fees. 
Friend.tech’s TVL grew by 540% in the last month, according to DefiLlama, with most of the rise occurring following a pump that kicked out on September 9. This coincided with a spike in daily trading volume. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/pepe-surges-13-sparking-future-speculation/" target="_blank" rel="noopener noreferrer nofollow">PEPE Surges 13% Sparking Future Speculation</a>

Coinbase’s Layer-2 Network Base Surpasses Solana in TVL

Table of Contents

TheNewsCrypto

Other articles published on Sep 23, 2023

Top US Crypto Exchange Coinbase Adds Trading Support for New Under-the-Radar Layer-1 Project

Daily Analysis: BTC, ETH, SAND, RPL, DASH

Mysterious Forbes Article Sparks Speculation in XRP Community

Federal Reserve Governor Lisa Cook Highlights AI’s Productivity Potential and Challenges

Bitcoin Gains But Finds Stability Above $26,000

Coinbase gains Bank of Spain’s nod for Bitcoin exchange expansion

Join our free newsletter for daily crypto updates!