Coinbase’s Base Grows to $175 Million TVL
Coinbase’s Base, the pioneer publicly-listed firm’s own L2 blockchain, has seen consistent growth. Daily active Base users reached 55,417 on July 30, 2023, and surged to an all-time high of 136,047 just 11 days later, surpassing L2 Optimism’s daily active users.
- Optimism’s usage also benefited from the Worldcoin launch.
- Base’s TVL on August 11, 2023, was approximately $175,915,994.
- Mainly consists of ETH and USDC with 75,244 ETH and 26,075,940 USDC secured in Coinbase’s layer.
- About 6,428,425 DAI is also circulating on Base along with 2,183 CBETH.
- On the same day, Cardano’s TVL stood at $179.17 million, surpassing Base’s TVL.
Surpassing Bitcoin’s value locked, Base’s TVL lags behind Arbitrum and Optimism. Base’s daily transaction count peaked at 607,699 on July 30 and achieved 579,752 transfers on August 10. Coinbase’s defi solutions have become prominent fixtures in the ecosystem.
Hot Take
Coinbase’s Base has experienced significant growth in its user base and total value locked. While it surpassed L2 Optimism in terms of daily active users, it lags behind Cardano in total value locked. However, Coinbase’s defi solutions, including its liquid staking derivative protocol, have made a mark in the ecosystem. As the crypto market continues to evolve, it will be interesting to see how Coinbase’s Base competes with other L2 solutions.
By
By
By
By
By
By