Coinbase’s layer-2 (L2) Base has reached a new milestone. In just a few days, the platform’s total value locked (TVL) rose to over $8 billion, surpassing one of its major competitors—Optimism.
This achievement presents Base’s rapid ascent in the competition among Ethereum-based L2 solutions. It also solidifies its position as a key player in the blockchain ecosystem.
Base Leads in Transactions and Profits Among Ethereum L2s
According to L2Beat data, Base reached $8 billion TVL as of June 10. This includes $2.14 billion in bridged value and $5.92 billion in native tokens minted on the blockchain. The recent achievement puts Base just behind Arbitrum One, which has a TVL of $18.27 billion.
With an average of 30.36 transactions per second (tps) over the last month, Base leads all Ethereum L2 solutions. For comparison, Arbitrum One averages 23.52 tps. In total, Base processed 64.86 million transactions in the previous 30 days.
Additionally, Lee thinks that regulatory challenges constantly evolve due to Ethereum’s continuous technological advancement and the widespread adoption of Layer-2 solutions.
