Coinbase's Layer-2 Blockchain Network Exceeds $4 Billion TVL

The Ethereum layer-2 blockchain known as Base, which was established by the major cryptocurrency exchange in the United States, Coinbase, has witnessed a spectacular increase in its total value locked (TVL), which has already surpassed $4 billion for the very first place  

Based on the information provided by L2BEAT, the total value of Base's TVL is estimated to be $4.15 billion, with $1.45 billion representing canonically bridged value and $2.7 billion in assets that were coined locally.  

Base is now ranked third among Ethereum layer-2 solutions in terms of TVL. This position was achieved by Base. It surpasses its principal rival, Blast, which has a TVL of $2.77 billion, which is its closest competition.  

Nevertheless, it is not in the same position as Optimism, which is in second place, with a TVL of $7.68 billion, and Arbitrum, which is the market leader with a TVL of $18.77 billion.  

Base is the only layer-2 network that has seen an increase in TVL during the previous week, making it the only one of the top five layer-2 networks to have experienced this. The most significant loss was incurred by Starknet, which was 9.0%, followed by Optimism, which had a fall of 8.2%.   

The increase in Base's TVL correlates with an increase in activity, as the 30-day transaction count of Base has eclipsed that of both Ethereum and its competitor Arbitrum. A total of 50.34 million transactions were recorded by Base, surpassing the totals of 40.1 million for Arbitrum and 37.9 million for Ethereum.  

As a result of the recent Dencun upgrade, which successfully implemented EIP-4844, which reduces transaction costs for Base and other layer-2 solutions, Ethereum continues to concentrate on improving its capabilities at the layer-2 level.  

According to the opinions of analysts working at VanEck, the market capitalization of the scaling ecosystem of layer-2 solutions might reach one trillion dollars by the year 2030.  

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