Base Dominates L2 Networks with Record 4 Million Transactions and Rising TVL

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Base has recently achieved a significant milestone in its transaction count, reflecting increased user engagement.
This rise is accompanied by a spike in Total Value Locked (TVL), indicating growing activity within the network.
Data from Coin98 Analytics and DeFiLlama highlights Base’s competitive position among Layer 1 (L1) and Layer 2 (L2) networks.

Discover the remarkable growth trajectory of Base, spotlighting its record-breaking transaction count and surging Total Value Locked in the crypto ecosystem.

Base Hits Record-Breaking Transaction Milestone

Base has recently reached an extraordinary level of network activity, as reported by Coin98 Analytics. The data indicates that Base recorded over 4 million transactions, the highest among both L1 and L2 networks. This achievement not only reflects its growing adoption but also sets an all-time high for the platform.

Surpassing Competitors in Network Activity

In comparison, Base’s nearest competitor managed a transaction count of approximately 2.2 million, underscoring Base’s dominant position. This surge in transactions is complemented by an increase in active addresses, further solidifying its lead among L2 networks. According to COINOTAG’s analysis from Growthepie, Base continues to command the top spot in this category.

Significant Growth in Total Value Locked (TVL)

Alongside its transaction milestone, Base has also seen substantial growth in its TVL. Data from DeFiLlama reveals that the network began an upward trend around July 6th, when its TVL was about $1.3 billion. Since then, it has steadily increased, reaching over $1.7 billion—an all-time high for the network.

Comparative Standing Among L2 Networks

Despite its impressive growth, Base remains second in TVL among L2 networks, trailing Arbitrum [ARB], which holds the leading position with over 40% of the total L2 TVL. Base’s share stands at roughly 15%, highlighting its significant but developing position in the market.

Conclusion

Base’s recent milestones in transaction count and TVL illustrate its robust growth and increasing relevance within the crypto space. As it continues to expand its user base and engagement, it stands as a formidable player among L2 networks. Future developments will likely see Base strengthening its market position even further.

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