Base secures top Layer 2 spot, crosses THESE key milestones

• Base strengthened its lead as the highest Ethereum layer 2 with new TVL ATH.
• Every day transaction depend soars to new highs as utility continues to gas progress.

The Base community’s relentless push to turn out to be the highest Ethereum [ETH] layer 2 this 12 months has paid off.

Regardless of this win, it continues to attain new milestones to safe its main place, and maybe even prolong its dominance. Right here’s a take a look at the Base community’s newest milestones.

Base is presently the highest Ethereum layer 2 by Complete Worth Locked (TVL). It lately prolonged this lead by pushing into a brand new excessive.

The community’s TVL peaked at $3.55 billion on the twenty fifth of November, including over $1 billion simply this month alone.

Supply: DeFiLlama

For context, Base had a $1.3 billion TVL lead towards Arbitrum [ARB] One at press time, its subsequent closest competitor, based on CoinGecko.

The state of the Base community

The Base TVL’s surge is a mirrored image of its budding ecosystem. The extent of community utility has additionally been on the rise and lately soared to the best ranges in its historical past, virtually clocking the ten million transactions mark.

The community’s transaction peaked at 9.32 million transactions on the twenty sixth of November, marking a brand new ATH.

Supply: DeFiLlama

The surge in transaction was additionally accompanied by sturdy volumes. On-chain quantity on Base peaked at $1.85 billion within the final 24 hours.

This was affirmation that the community was nonetheless experiencing sturdy on-chain exercise.

The community’s highest single day on-chain quantity was on the thirteenth of November, when it soared to $2.16 billion.

These are spectacular figures contemplating that the layer 2 community’s day by day quantity averaged lower than $100 million within the first two months of 2024.

Regardless of this spectacular efficiency, there may be one metric that has been lagging in comparison with its efficiency earlier within the 12 months. Base day by day income has been rising, and it simply soared to a brand new 5-month excessive of $610,940.

Supply: DeFiLlama

The community’s newest income figures had been nothing near its historic highs for 2024. To place issues into perspective, Base registered its highest income day by day income of this 12 months at $3.34 million on the twenty sixth of March.

There’s one potential clarification for the income peak distinction. ETH traded considerably increased again then, with value briefly hovering above $4,000 in March 2024.

Can Base keep its lead? Effectively, judging by its current efficiency, it’s clear that the community has been experiencing its highest stage of utilization/adoption in November 2024.

It has achieved its objective of leaping to the highest, however the future is unwritten, and new competitors might pose a problem sooner or later.