Arbitrum

Token

Base

Read

Billion

<ul>
 <li>Base’s TVL hits $8B, becoming the second-largest Ethereum scaler.</li>
 <li>Base leads in transaction speed with 30.36 transactions per second.</li>
 <li>VanEck predicts the Ethereum layer-2 market cap will reach $1T by 2030.</li>
</ul>
<p>In a notable achievement for Ethereum layer-2 networks, Base has quickly ascended to surpass $8 billion in total value locked (TVL), just days after eclipsing the TVL of Optimism’s OP Mainnet. This milestone underscores Base’s growing dominance in the Ethereum scaling arena.</p>
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   <p lang="en" dir="ltr">Base Summer!<br><br>The total value locked (TVL) on the Ethereum layer-2 network Base has surpassed $8 billion days after overtaking Optimism’s OP Mainnet.<br><br>TVL as of June 10 is $8.05 billion, including $2.14 billion of canonically bridged value — assets locked on Ethereum to be… <a href="https://t.co/DYfwEfPZ23" rel="noopener noreferrer nofollow">pic.twitter.com/DYfwEfPZ23</a></p>— Oliver Isaacs (@oliverzok) <a href="https://twitter.com/oliverzok/status/1800126315774828780?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
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<p><strong>Rapid Growth in TVL and Transactions</strong></p>
<p>Base, supported by Coinbase, now stands as the second-largest Ethereum scaler by TVL, with only Arbitrum One ahead at $18.27 billion. This growth trajectory began shortly after its launch in August 2023, hitting the $1 billion mark by February 27, less than seven months post-launch. Currently, Base’s TVL <a href="https://l2beat.com/scaling/projects/base#tvl" target="_blank" rel="noopener noreferrer nofollow">consists</a> of $2.08 billion in canonically bridged assets and $5.70 billion in assets minted natively on the platform.</p>
<p>Moreover, Base has topped the charts in transaction throughput among Ethereum layer-2 solutions, processing over 64.86 million transactions in the past month. This indicates a transaction rate 30.36 per second, outpacing its closest competitor, Arbitrum One.</p>
<p><strong>Profitability Leads Among Peers</strong></p>
<p>In addition to its impressive growth in TVL and transaction volume, Base has also led in profitability among Ethereum layer-2 networks for three consecutive months. Despite a drop in May to $6.98 million, Base’s profits still outstripped those of OP Mainnet, which saw profits of $1.57 million.</p>
<p>This profitability was buoyed by the activities surrounding memecoins earlier in the year. The network has, however, had to navigate challenges such as an increase in phishing scams, which saw a rise from January to March.</p>
<p><a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-ethereum-layer-2s-valuation-prediction-by-2030/" target="_blank" rel="noopener noreferrer nofollow">VanEck’s analysts</a> expect that the total market capitalization of the layer-2 networks will be $1 trillion by 2030 as Ethereum’s layer-2 ecosystems are still rapidly growing.&nbsp; Hence, Base’s recent achievements support this bullish view, as they suggest that there is room for efficient and scalable solutions in the Ethereum blockchain.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
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<p>The post <a href="https://cryptonewsland.com/ethereums-base-surges-past-8-billion-tvl-overtakes-op-mainnet/" rel="noopener noreferrer nofollow">Ethereum’s Base Surges Past $8 Billion TVL, Overtakes OP Mainnet</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ethereum’s Base Surges Past $8 Billion TVL, Overtakes OP Mainnet

Crypto News Land

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