Base, Coinbase’s Layer 2 Rollup, Surges in TVL
The Ethereum Layer 2 rollup developed by Coinbase, called Base, is gaining momentum in the market. The blockchain’s Total Value Locked (TVL) has skyrocketed in recent weeks, with triple-digit growth in just the last two weeks. The question is, what is driving this growth?
Main Key Points:
- Base gained traction with the launch of meme coins on its network, such as BALD, which saw a significant increase in market cap.
- Despite a rug pull incident with BALD, more developers have chosen to launch their projects on Base, including popular protocols like SushiSwap, Uniswap, and Compound.
- New projects like Alien Base, SwapBased, and Krav have also seen rapid growth in TVL on Base.
- Base’s TVL has grown by almost 900% in the last two weeks, making it the fastest-growing Ethereum Layer 2 blockchain in terms of TVL.
- Although Base still has a long way to go compared to established Layer 2 networks, its bull case is growing, with significant bridged assets and a high number of daily active users.
Hot Take:
Base’s rapid growth and support from Coinbase position it as a promising player in the Layer 2 blockchain space. With its increasing popularity and backing, Base has the potential to become one of the leading Layer 2 blockchains in the future.
By
By
By
By