Base Reaches Significant Milestones
Base recently hit major milestones in some of its key metrics. How does it compare to its nearest competitors?
Transaction Count Milestone
Base recently experienced a significant uptick in daily transaction count, reaching a notable milestone that suggests increased user engagement and adoption.
- Transaction count was around 4 million.
- Recent data from Coin98 Analytics revealed Base achieved the highest transaction count among both Layer 1 (L1) and Layer 2 (L2) networks.
- This impressive volume significantly outpaced its nearest competitor, which recorded around 2.2 million transactions.
- AMBCrypto’s analysis from Growthepie corroborated its leading position in terms of transaction count.
- Notably, there has been an increase in the number of active addresses on the network, propelling Base to the top spot among L2 networks.
Spike in Total Value Locked (TVL)
The Total Value Locked (TVL) in Base has shown a positive trajectory, marking significant growth in the network’s engagement within the DeFi sector.
- According to data from DeFiLlama, this uptrend in TVL began around the 6th of July, when it was approximately $1.3 billion.
- Since then, there has been a steady increase, with the TVL surpassing $1.7 billion.
- This growth in TVL is noteworthy as it represents a milestone for Base—the first time the network’s TVL has reached this level.
Comparison with Other L2 Networks
According to the latest data from L2Beats, Base has achieved significant standing among Layer 2 (L2) networks. Its TVL has positioned it as one of the top platforms in this space.
- Base ranked second at press time, following Arbitrum [ARB], which held the lead.
- Arbitrum dominated with over 40% of the total TVL across Layer 2 solutions, underscoring its strong market presence and user trust.
- In comparison, Base held approximately 15% of the L2 market share in terms of TVL.
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