Coinbase’s Base, an Ethereum scaling solution, is on track to become the biggest Layer-2 blockchain by the end of the year, according to market intelligence platform IntoTheBlock.
Base is Growing Fast
Base has been live for just over a year and is already showing impressive growth. Its total value locked (TVL), which represents the amount of assets locked into the platform, is nearing the top spot, surpassing Arbitrum, another popular Layer-2 blockchain. In September alone, Base saw a massive $700 million influx in TVL. If this growth continues, it will likely be the biggest Layer-2 blockchain by the end of the year.
Base Outperforms Other Layer-2s
Base isn’t just winning on TVL. It’s also outperforming other popular Layer-2s like Optimism and Arbitrum in other key metrics.
- Transaction Volume: Base has captured a significant chunk of the transaction volume among the three Layer-2 blockchains, reaching 40-60% in recent months.
- New Adoption Rate: Base is the only one of the three Layer-2s that has seen consistent growth in the number of new users making their first transactions.
A Model for the Future
IntoTheBlock believes Base’s success is a sign of things to come. More companies are likely to create their own blockchains to keep users within their product ecosystems. This trend will be accelerated by modular blockchain solutions, which make it easier to create tailored infrastructures that meet specific user needs.
