Base Ethereum Layer-2 Network Surpasses $8 Billion TVL Milestone and Leads in TPS
Base, an Ethereum layer-2 network, has achieved a significant milestone by surpassing $8 billion in Total Value Locked (TVL), positioning itself as the second-largest Ethereum scaler after Arbitrum One. The network has also emerged as a leader in transactions per second (TPS) over recent months, demonstrating impressive scalability and adoption among users and developers.
Impressive Growth and Milestones
- Base surpassed $8 billion in TVL, overtaking Optimism’s OP Mainnet.
- The network processed 64.95 million transactions in the last month, leading all Ethereum layer 2s in TPS.
- Base’s TVL has grown significantly, from $1 billion in February to $8 billion currently, marking an eight-fold increase in just 104 days.
Despite facing challenges such as phishing scams targeting memecoin projects, Base remains the most profitable Ethereum scaler for three consecutive months, showcasing its financial success and market prominence.
Financial Success and Market Position
- Base has reached a TVL of $8.08 billion, backed by $2.14 billion in bridged value and $5.92 billion in natively minted assets.
- The network’s rapid growth since its launch in August 2023 has propelled it to become the second-largest Ethereum scaler, behind only Arbitrum One with $18.27 billion in TVL.
- Base processed 64.95 million transactions at a rate of 30.36 TPS in the last month, showcasing its scalability and adoption among users and developers.
Analysts at asset manager VanEck foresee a promising future for Ethereum layer-2 scaling networks like Base, projecting a combined market cap of $1 trillion by 2030 driven by various factors such as transaction pricing, developer experience, user experience, trust assumptions, and ecosystem size.
Challenges and Future Outlook
- Base’s success has attracted scammers targeting memecoin projects, leading to an increase in funds stolen from phishing scams between January and March.
- User education and security measures are crucial in the rapidly evolving decentralized finance (DeFi) space to address such challenges and ensure a secure ecosystem.
Hot Take: Base Ethereum Layer-2 Network’s Continued Growth and Market Dominance 🚀
In conclusion, Base’s achievement of surpassing $8 billion in TVL and leading in TPS demonstrates its strong position in the Ethereum scaling landscape. Despite facing challenges such as phishing scams, the network’s financial success and scalability indicate a bright future ahead. With analysts predicting significant growth for Ethereum layer-2 scaling networks, Base is well-positioned to continue its trajectory of success and market dominance in the years to come.
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