Ethereum

Arbitrum

Base

Billion

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/base-surpasses-8-billion-in-tvl" data-wpel-link="internal" rel="noopener noreferrer nofollow">Base Surpasses $8 Billion in TVL</a><br></p>
<p style="text-align: justify">The Ethereum Layer-2 network, Base, has recently surpassed $8 billion in total value locked (TVL), marking a significant milestone just days after it overtook Optimism. According to the blockchain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data analysis</a> platform L2Beat, as of June 10, Base’s TVL stands at $8.05 billion. This figure includes $2.14 billion worth of Ethereum assets represented on Base and $5.92 billion in locally minted assets.</p>
<h2 id="base-continues-to-set-records">Base Continues to Set Records</h2>
<p style="text-align: justify">Backed by Coinbase, the Base network recently surpassed OP Mainnet, becoming the second-largest Ethereum scaler in terms of TVL, following Arbitrum One, which holds $18.27 billion. Base reached the $1 billion mark in TVL on February 27, just seven months after its launch last August. Remarkably, since then, its TVL value has surged eightfold in the last 104 days.</p>
<p style="text-align: justify">In terms of transaction performance, Base led all Ethereum Layer-2 networks last month, averaging 30.36 transactions per second, outpacing Arbitrum One’s 23.52. Over the past 30 days, Base has conducted an impressive 64.86 million transactions.</p>
<h2 id="significant-data-insights">Significant Data Insights</h2>
<p style="text-align: justify">According to Dune Analytics data compiled by Niftytable, Base recorded the highest on-chain profit among Ethereum Layer-2 networks over the past three months. In March, the network generated a record $16.9 million in profit. Although on-chain profit decreased by 58.6% to $6.98 million in May, Base still leads, with OP Mainnet recording $1.57 million in profit last month.</p>
<p style="text-align: justify">The surge in profits can be attributed to the recent <a href="https://en.bitcoinhaber.net/the-astounding-rise-of-a-meme-coin-a-patient-investors-dream" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> craze in early 2024. However, this popularity has also attracted scammers, leading to an 18-fold increase in funds stolen from phishing scams from January to March. Analysts at asset manager VanEck project that Ethereum Layer-2 scaling networks could reach a total <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> value of $1 trillion by 2025.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">Here are some critical insights based on recent data:</p>
<ul>
 <li>Base’s TVL surged to $8.05 billion, an eightfold increase in just 104 days.</li>
 <li>Base led Ethereum Layer-2 networks in transaction volume last month with 30.36 transactions per second.</li>
 <li>Base’s on-chain profit topped $16.9 million in March but dropped to $6.98 million in May.</li>
 <li>The memecoin trend significantly boosted Base’s profitability but also led to a rise in phishing scams.</li>
</ul>
<p style="text-align: justify">In summary, the Base network’s rapid growth and high transaction volume highlight its potential and influence within the Ethereum Layer-2 ecosystem. However, the increase in phishing scams underscores the importance of security measures as the network continues to expand.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/base-surpasses-8-billion-in-tvl" data-wpel-link="internal" rel="noopener noreferrer nofollow">Base Surpasses $8 Billion in TVL</a></h5>

Base Surpasses $8 Billion in TVL

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