{"id":80804,"date":"2024-06-10T06:19:37","date_gmt":"2024-06-10T10:19:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=80804"},"modified":"2024-06-10T06:19:39","modified_gmt":"2024-06-10T10:19:39","slug":"base-tops-other-eth-layer-2-networks-as-tvl-surges-to-8b","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/base-tops-other-eth-layer-2-networks-as-tvl-surges-to-8b\/","title":{"rendered":"Base Tops Other ETH Layer-2- Networks as TVL Surges to $8B"},"content":{"rendered":"\n

Ethereum layer-2 network Base has surpassed $8 billion in total value locked (TVL) days after surpassing Optimism's OP Mainnet and now tops all other layer-2 networks<\/a>.<\/p>\n\n\n\n

\"Base
Base Tops Other ETH Layer-2- Networks as TVL Surges to $8B<\/figcaption><\/figure>\n\n\n\n

L2Beat data indicates that its TVL as of June 10 is $8.05 billion, which includes $2.14 billion in canonically bridged value (assets that are secured on Ethereum to be represented on Base) and $5.92 billion in natively minted assets.<\/p>\n\n\n\n

\"Base\u2019s
Base\u2019s change in TVL since June 16, 2023. Source: L2BEAT<\/figcaption><\/figure>\n\n\n\n

Last week, the Coinbase-supported chain surpassed OP Mainnet as the largest chain within the Superchain ecosystem\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. It is now the second-largest Ethereum scaler in TVL, trailing Arbitrum One's $18.27 billion.<\/p>\n\n\n\n

Base achieved the $1 billion TVL milestone on February 27, approximately seven months after its inception in August 2023. Nevertheless, it has been on an upward trajectory for the past 104 days, experiencing a significant increase in value.<\/p>\n\n\n\n

Additionally, it ranks as the most active Ethereum layer 2 in terms of transactions per second over the past month, with a rate of 30.36, surpassing Arbitrum One's rate of 23.52, according to L2BEAT. Base has processed 64.86 million transactions in the past 30 days.<\/p>\n\n\n\n

Base is Generating Immense Profits<\/h2>\n\n\n\n

According to a Dune Analytics dashboard by “niftytable,” Base has generated the most on-chain profits in the past three months, with a record $16.9 million in March.<\/p>\n\n\n\n

Base's on-chain profits decreased by 58.6% in May to $6.98 million. However, it continues to surpass the second-most profitable Ethereum layer, OP Mainnet, which generated $1.57 million in profits last month.<\/p>\n\n\n\n

\"Profits
Profits from Ethereum layer-2 scaling solutions since January 2023. Source: Dune Analytics<\/figcaption><\/figure>\n\n\n\n

The recent memecoin euphoria in the first few months of 2024 was the source of a significant portion of these profits.<\/p>\n\n\n\n

Nevertheless, the network experienced an 18-fold increase in funds stolen from phishing scams from January to March, as well as the attraction of scammers to Base's prominence with memecoins.<\/p>\n\n\n\n

Analysts at VanEck, an asset manager<\/a>, anticipate that the combined market capitalization of Ethereum layer-2 scaling networks will exceed $1 trillion by 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum layer-2 network Base has surpassed $8 billion in total value locked (TVL) days after surpassing Optimism’s OP Mainnet and now tops all other layer-2 networks. L2Beat data indicates that its TVL as of June 10 is $8.05 billion, which includes $2.14 billion in canonically bridged value (assets that are secured on Ethereum to be […]<\/p>\n","protected":false},"author":12,"featured_media":56418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[13662,13045,11073],"class_list":["post-80804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-base","tag-layer-2-networks","tag-tvl-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/image-35.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/80804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=80804"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/80804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/56418"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=80804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=80804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=80804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}