Base Layer 2 Network Surpasses $10 Billion TVL, Hits 106.26 TPS
Amid heightened exercise throughout the crypto market, the Base community additionally skilled renewed momentum.
Knowledge from L2Beat revealed that Base’s complete worth locked (TVL) surged by greater than 5% over the past week, surpassing $10 billion for the primary time, with Aerodome Finance main the cost reflecting the meme coin buying and selling dominance. Since September’s transient decline beneath $6 billion, the community’s TVL has grown by over 67% to this point.
The newest milestone has catapulted Base to change into the second Ethereum Layer 2 community with greater than $10 billion TVL, following Arbitrum. Moreover, on November 24, Base achieved a document transaction pace, reaching 106.26 transactions per second (TPS).
In the meantime, the entire variety of on-chain transactions on Base crossed the 9 million mark this week. The Layer 2 has additionally witnessed progress by way of weekly lively addresses with figures nearing 6.6 million indicating rising person engagement and growing adoption.
Throughout these instances of elevated exercise, blockchain networks usually witness progress in stablecoin market caps as nicely. On October 26, Base briefly turned the main blockchain for stablecoin quantity with greater than 30% share, outpacing established giants like Solana, Ethereum, and Tron. Nonetheless, a month later, the community noticed a reversal, with the stablecoin provide inside its ecosystem exhibiting a notable decline.
As of November 23, Artemis Terminal knowledge locations Base because the third-largest blockchain for stablecoin quantity, trailing Solana and Ethereum. Curiously, this development seems to have emerged post-election. Anagram accomplice David Alexander II noticed that Arbitrum recorded a 19% progress in complete stablecoins on its community, whereas Base and Optimism noticed reductions of 6.6% and 1%, respectively, since November fifth.
