Base Sees 51% TPS Surge Over Ethereum L2s

Impressive Growth Metrics for Base

Base is establishing itself as a strong competitor in the blockchain space, generating $7.2 million in revenue during Q3. As more projects and users migrate to the platform, its daily transactions are approaching 7 million.

Transaction Activity on Base

Over the past day, Base’s TPS increased by almost 51%, outpacing competitors:

• Arbitrum One: +17.5%
• Optimism (OP) Mainnet: -11.9%

Additionally, Base saw its Total Value Locked (TVL) increase by around 1%, reaching a cumulative peak of approximately $2.5 billion this week.

Q3 Revenue and Market Position

In Q3, Base reported a revenue of $7.2 million, ranking just behind Ethereum and Tron, which generated $159 million and $151 million, respectively. Notably, Base outperformed other networks such as:

• BNB Chain: $3.4 million
• Arbitrum: $3.3 million

According to CoinGecko, Base handled the most transactions in Q3, making up 42.5% of all Layer 2 transactions, followed by Arbitrum at 18.9% and Blast at 8.1%.

Active User Growth on Base

According to DefiLlama, Base hosts 368 protocols and 2.42 million active addresses in the last 24 hours. Over the past month, Base has recorded a 41% increase in active addresses, significantly outpacing:

• Ethereum: +4%
• Solana: +25%

The network’s daily transactions are inching toward 7 million for the first time, maintaining at least 6 million transactions throughout the week.

Impact of Ethereum Upgrades on Layer 2 Solutions

The increased transaction volume is supported by high development activity on Base over the last 30 days, with Token Terminal reporting over 200 code commits—a 20% increase in the period. Base, built as an Optimistic Rollup using the OP Stack, is set to benefit from Ethereum co-founder Vitalik Buterin’s emphasis on rollup-centric scaling.

The upcoming Pectra upgrade is expected to enhance Base’s network capacity, focusing on scaling data availability and processing more transactions at lower costs. This upgrade will integrate PeerDAS to improve Ethereum’s data handling capabilities without overloading individual nodes by 2025.

Current Liquidity and Future Prospects

As of now, Base’s rollup is in Stage 0 of development. The stablecoin market on the network is approaching $3.708 billion, indicating higher liquidity than Solana’s $3.615 billion.

Base’s TVL consists of:

• $5.67 billion in assets natively minted
• Nearly $100 million externally bridged from other chains
• $2 billion canonically bridged, with USDC holding about $3.4 billion across multi-chain contracts

Recent Developments and Future Growth

Recently, Bitgreen, a federal tax credit and carbon strategy platform, announced its migration from Polkadot to Base. The influx of new DApps, protocols, and memecoins continues to drive growth on the network this year.