{"id":552690,"date":"2023-09-24T12:45:53","date_gmt":"2023-09-24T12:45:53","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=552690"},"modified":"2023-09-24T13:03:53","modified_gmt":"2023-09-24T13:03:53","slug":"explosive-6-week-growth-sees-coinbases-base-hit-new-milestone","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/explosive-6-week-growth-sees-coinbases-base-hit-new-milestone\/","title":{"rendered":"Explosive 6-Week Growth Sees Base Hit New Milestone"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Coinbase\u2019s layer 2 scaling solution, called Base, has seem a meteoric rise in popularity recently. In just six short weeks since its launch, Base&#8217;s total value locked (TVL) has skyrocketed to nearly $400 million. This rapid rise in use and popularity has even seen it recently overtake the Solana blockchain in TVL.\u00a0<\/span><\/p>\n<h2><b>Coinbase&#8217;s Layer 2 Scaling Network TVL Overtakes Solana\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Base operates as a layer 2 network on Ethereum launched by Coinbase in collaboration with Optimism to offer a safe, low-cost, developer-friendly way to build on-chain. Since its launch, Base has managed to find a strong market fit, allowing it to quickly penetrate the crypto market. However, this hasn\u2019t been without some hiccups. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/analysis\/xrp\/xrp-forecast-is-a-retreat-below-0-5-likely-before-october\/\" target=\"_blank\" rel=\"noopener \">XRP Forecast: Is A Retreat Below $0.5 Likely Before October?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Before its public launch, Base had some glitches, which developers were able to rectify quickly. Earlier this month, the network faced another setback as block production unexpectedly stopped for 45 minutes. According to DeFi TVL aggregator DefiLlama, Base&#8217;s TVL has risen +111% in the past month to now holding more than $370.29 million.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Last week, Base&#8217;s growth saw it <\/span><a href=\"https:\/\/shenyangcang.com\/news\/defi\/coinbase-base-tvl-solana\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">blow past the Solana blockchain<\/span><\/a><span style=\"font-weight: 400\"> in terms of transaction volume. This growth has continued, and the Layer-2 network has now moved ahead of Solana whose total value locked (TVL) dropped by 12.22% in the last month to $310 million. Also, this places Base&#8217;s TVL ahead of other popular chains like Cronos, Bitcoin, and Cardano.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/E3fFwDG5\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">Crypto market cap currently at $1.03 trillion. Chart by <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><b>Base Sees Massive Growth In Just 6 Weeks<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Base&#8217;s growth kickstarted with Aerodrome, a decentralized exchange, <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-crypto-guide-september-key-events\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">which deposited $190 million on the network<\/span><\/a><span style=\"font-weight: 400\"> after its launch. Base&#8217;s growth can also be attributed to the popularity of Friend.tech, a decentralized social app. With a current TVL of $38.6 million, Friend.tech is one of the projects native to Base with a the largest stake. Other projects with a considerable stake in TVL include Stargate, Curve DEX, and Compound V3.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the moment, Ethereum continues to lead the pack in terms of TVL. However, the coming months will be crucial in determining whether Base can sustain its momentum and continue gaining mainstream traction. At its current trajectory, Base could surpass $500 million in TVL in the coming weeks and solidify itself as a leader in layer-2 scaling networks.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/polkadot-cross-chain-bid-takes-flight-as-dot-battles-uncertainty\/\" target=\"_blank\" rel=\"noopener \">Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty<\/a><\/div>\n<p><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/basescan.org\/chart\/tx\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">BaseScan<\/span><\/a><span style=\"font-weight: 400\">, the number of daily transactions on Base reached a new high of 1.88 million on September 14, as reported by BaseScan. The layer-2 network has now processed more than 40.31 million transactions at the time of writing.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em>Featured image from iStock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase\u2019s layer 2 scaling solution, called Base, has seem a meteoric rise in popularity recently. In just six short weeks since its launch, Base&#8217;s total value locked (TVL) has skyrocketed to nearly $400 million. This rapid rise in use and popularity has even seen it recently overtake the Solana blockchain in TVL.\u00a0 Coinbase&#8217;s Layer 2 Scaling Network TVL Overtakes Solana\u00a0 Base operates as a layer 2 network on Ethereum launched by Coinbase in collaboration with Optimism to offer a safe, low-cost, developer-friendly way to build on-chain. Since its launch, Base has managed to find a strong market fit, allowing it to quickly penetrate the crypto market. However, this hasn\u2019t been without some hiccups. Related Reading: XRP Forecast: Is A Retreat Below $0.5 Likely Before October? Before its public launch, Base had some glitches, which developers were able to rectify quickly. Earlier this month, the network faced another setback as block production unexpectedly stopped for 45 minutes. According to DeFi TVL aggregator DefiLlama, Base&#8217;s TVL has risen +111% in the past month to now holding more than $370.29 million.\u00a0 Last week, Base&#8217;s growth saw it blow past the Solana blockchain in terms of transaction volume. This growth has continued, and the Layer-2 network has now moved ahead of Solana whose total value locked (TVL) dropped by 12.22% in the last month to $310 million. Also, this places Base&#8217;s TVL ahead of other popular chains like Cronos, Bitcoin, and Cardano. Crypto market cap currently at $1.03 trillion. Chart by TradingView.com Base Sees Massive Growth In Just 6 Weeks Base&#8217;s growth kickstarted with Aerodrome, a decentralized exchange, which deposited $190 million on the network after its launch. Base&#8217;s growth can also be attributed to the popularity of Friend.tech, a decentralized social app. With a current TVL of $38.6 million, Friend.tech is one of the projects native to Base with a the largest stake. Other projects with a considerable stake in TVL include Stargate, Curve DEX, and Compound V3. At the moment, Ethereum continues to lead the pack in terms of TVL. However, the coming months will be crucial in determining whether Base can sustain its momentum and continue gaining mainstream traction. At its current trajectory, Base could surpass $500 million in TVL in the coming weeks and solidify itself as a leader in layer-2 scaling networks.\u00a0 Related Reading: Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty According to BaseScan, the number of daily transactions on Base reached a new high of 1.88 million on September 14, as reported by BaseScan. The layer-2 network has now processed more than 40.31 million transactions at the time of writing. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":594,"featured_media":552697,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87903,1020,1393,1946,79567],"class_list":["post-552690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-base","tag-blockchain","tag-coinbase","tag-ethereum","tag-layer-2"],"acf":[],"yoast_head":"\n<title>Explosive 6-Week Growth Sees Base Hit New Milestone<\/title>\n<meta name=\"description\" content=\"Coinbase\u2019s layer 2 scaling solution, called Base, has seem a meteoric rise in popularity recently. 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