The Coinbase-backed Ethereum layer-2 network Base has surged past $4 billion in total value locked (TVL), marking a 13.2% increase in the past week.
L2BEAT data reveals Base’s TVL at $4.15 billion, with $1.45 billion bridged from Ethereum and $2.7 billion in native assets. Base is now the third-largest Ethereum layer 2, surpassing Blast by $1.4 billion.
In the past week, Base gained while others like Starknet and Optimism saw losses in TVL. Base’s 30-day transaction count also outpaced Ethereum and Arbitrum, hitting 50.50 million transactions.
Base’s average daily transactions per second (TPS) increased by 29.7%, reaching 35.19 TPS, higher than Arbitrum and Ethereum combined. The platform’s meme token market capitalization exceeded $1.6 billion, benefiting from recent memecoin activity.
However, Base faced challenges with an 18-fold increase in successful phishing scams, resulting in $3.35 million stolen last month.
Ethereum’s focus on improving layer-2 transaction data processing, like the March 13 Dencun update reducing fees, could benefit platforms like Base. Analysts predict Ethereum’s scaling ecosystem could reach a $1 trillion market capitalization by 2030, benefiting layer-2 solutions like Base.
Also Read: Coinbase Base Network Sees Record-High 2.27M Transactions
