Coinbase’s BASE Shows Teeth As TVL Nears Solana

News BTC

Ethereum-based Layer 2 network “Base” has put on an impressive performance yet again, with its Total Value Locked (TVL) coming close to one of the most notable blockchains.

Coinbase’s BASE Has Outperformed Solana

Coinbase’s layer 2 blockchain network, Base, has seen an upward trajectory movement since it was introduced to the public, outperforming some of the notable blockchains in the crypto market. The network is now drawing close to Solana in terms of TVL, indicating remarkable growth within the network.

How To Get Free Crypto  

Data from DeFiLlama shows that the blockchain network now sits a little above $407 million in TVL, while Solana sits a little above $650 million in TVL. The uptick in Base’s TVL is due to the significant number of users and developers currently settling on Base for their decentralized applications (dApps) and other financial protocols. 

BASE TVL crosses $400 million | Source: DeFiLlama

The blockchain network also managed to surpass Solana in terms of transaction volume and number of unique addresses. In the past two months, the blockchain network has experienced an immense increase in transaction volume and number of unique addresses more than that of Solana. Data from IntoTheBlock shows an impressive increase of 1.88 million daily transactions on September 16, 2023.

Base’s immense increase in transaction volume and number of unique addresses can be traced back to the growing user base of Base’s, a social platform that allows users to buy and sell shares in public figures.

“In just 2 months, Coinbase’s Base L2 has skyrocketed, topping the charts in transactions and unique addresses. Much of this growth is fueled by the new social app, FriendTech,” IntoTheBlock stated on X.

Coinbase Banner  

Base operates as a layer 2 network on Ethereum that came about due to the combined effort from Coinbase and Optimism. Incubated by Coinbase, Base was created to provide its users with a faster transaction process, improved scalability, and lower gas fees.

Currently, Base surpassing Solana in transaction volume, and the number of unique addresses is one of the most impressive achievements of the blockchain network, due to Solana being one of the most notable blockchains in the crypto ecosystem known for its speed and scalability.

During the first week of its mainnet launch, the blockchain network also surpassed Cardano in terms of TVL, transaction speed, and number of successful transactions. The blockchain saw more successful transactions in one week than Cardano’s successful transactions in one month.

SOL price tops $19.8 | Source: SOLUSD on

Social App Attributed To Base’s Achievements

You can’t rule out when talking about Base’s achievement in the crypto market. The social app is well-known among users and investors and has become an eminent topic of discussion in the community.

FreeBitcoin Banner  

During its official launch on August 10, 2023, the invite-only social app recorded over 4,400 ETH ($8.1 million) in trading volume in just 24 hours after its launch. The social app has also reportedly accumulated more than 130,000 daily users since its release. Base also saw a surge in Transactions Per Second (TPS) as more investors engaged in the social app.

Featured image from Tapchibitcoin, chart from

Go to Source
Author: Scott Matherson

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.