Base Emerges as a Top Bridge
About six weeks after its launch, Base, the layer-2 scaling solution supported by Coinbase, has become the seventh most active bridge in terms of transaction count. According to DeFiLlama data on September 21, the Ethereum-Base bridge recorded 2,090 transactions. This surpasses the transaction counts of the Ethereum—Arbitrum and Polygon zkEVM bridges, which had 1,642 and 860 transactions respectively.
Stargate Takes the Lead
Although the transaction count for the Ethereum to Base Bridge is significant, it falls short compared to the zkSync Era Bridge. As of now, the zkSync Era Bridge has processed 29,970 transactions, over 14 times more than the Ethereum to Base bridge. The Stargate Bridge, which connects to various blockchains and layer-2 platforms like Solana, Polygon, Avalanche, and BNB Chain, is currently leading with over 118,000 transactions processed.
Base’s Rise Amid Competition
The rise of Base is remarkable considering its launch timing and competition from other established layer-2 networks such as Arbitrum and OP Mainnet (formerly Optimism). While Ethereum remains the most popular smart contract platform and its native currency is second only to Bitcoin in value, it faces scalability challenges at the base layer.
Impressive TVL for Base
In terms of Total Value Locked (TVL), Arbitrum One has $5.6 billion locked while OP Mainnet has $5.28 billion. Despite being recently launched, Base has achieved a TVL of $530 million, making it the third-largest. It currently supports Friend.tech, a decentralized social media platform.
Hot Take: Base Gains Traction in the Layer-2 Space
Base, the layer-2 scaling solution backed by Coinbase, has quickly gained traction in the layer-2 space. With its Ethereum-Base bridge becoming one of the most active bridges, Base is proving to be a strong competitor against established networks like Arbitrum and OP Mainnet. The impressive transaction count and Total Value Locked demonstrate the growing interest and adoption of Base. As Ethereum continues to face scalability challenges, solutions like Base are essential for enabling faster and more efficient transactions on the network.
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