Base Layer 2 Network Surpasses $10 Billion TVL, Hits 106.26 TPS

Amid heightened exercise throughout the crypto market, the Base community additionally skilled renewed momentum.

Information from L2Beat revealed that Base’s whole worth locked (TVL) surged by greater than 5% during the last week, surpassing $10 billion for the primary time, with Aerodome Finance main the cost reflecting the meme coin buying and selling dominance. Since September’s temporary decline under $6 billion, the community’s TVL has grown by over 67% thus far.

The most recent milestone has catapulted Base to develop into the second Ethereum Layer 2 community with greater than $10 billion TVL, following Arbitrum. Moreover, on November 24, Base achieved a report transaction velocity, reaching 106.26 transactions per second (TPS).

In the meantime, the overall variety of on-chain transactions on Base crossed the 9 million mark this week. The Layer 2 has additionally witnessed progress when it comes to weekly lively addresses with figures nearing 6.6 million indicating rising consumer engagement and rising adoption.

Throughout these occasions of elevated exercise, blockchain networks sometimes witness progress in stablecoin market caps as nicely. On October 26, Base briefly became the main blockchain for stablecoin quantity with greater than 30% share, outpacing established giants like Solana, Ethereum, and Tron. Nonetheless, a month later, the community noticed a reversal, with the stablecoin provide inside its ecosystem exhibiting a notable decline.

As of November 23, Artemis Terminal data locations Base because the third-largest blockchain for stablecoin quantity, trailing Solana and Ethereum. Curiously, this development seems to have emerged post-election. Anagram accomplice David Alexander II observed that Arbitrum recorded a 19% progress in whole stablecoins on its community, whereas Base and Optimism noticed reductions of 6.6% and 1%, respectively, since November fifth.