Ethereum

Value

Arbitrum

Base

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 Coinbase’s Base has emerged as the leading Ethereum layer-2 network, boasting the highest transaction count and profitability for three consecutive months.
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According to<a style="color: #0000ff;" href="https://l2beat.com/scaling/projects/base" rel="noopener noreferrer nofollow"> L2Beat</a>, as of June 10, Base’s Total Value Locked (TVL) stands at $8.05 billion. This includes $2.14 billion of assets bridged from Ethereum and $5.92 billion in natively minted assets.
Base overtook Optimism’s OP Mainnet last week to become the largest chain in the Superchain ecosystem. It is now the second-largest Ethereum scaler in terms of TVL, behind Arbitrum One, which holds $18.27 billion.
Base<a style="color: #0000ff;" href="https://l2beat.com/scaling/projects/base" rel="noopener noreferrer nofollow"> reached</a> the $1 billion TVL milestone on February 27, just seven months after its<a style="color: #0000ff;" href="https://twitter.com/base/status/1689321221715017728?t=hTRdTh-UoUz-1I0294EMKA&amp;s=19" rel="noopener noreferrer nofollow"> launch</a> in August 2023. Since then, it has grown rapidly, increasing eightfold in the last 104 days.
In terms of transaction speed, Base leads all Ethereum layer-2 networks with an average of 30.36 transactions per second over the past month, outpacing Arbitrum One’s 23.52,<a style="color: #0000ff;" href="https://l2beat.com/scaling/activity" rel="noopener noreferrer nofollow"> according to L2beat</a>. Over the last 30 days, Base processed 64.86 million transactions.
Financially, Base has been the most profitable Ethereum layer-2 network over the past three months. In March 2024, it set a record with $16.9 million in on-chain profits. Although profits dropped 58.6% to $6.98 million in May, Base still outperformed OP Mainnet, which reported $1.57 million in profits for the same period, according to<a href="https://dune.com/niftytable/rollup-economics" rel="noopener noreferrer nofollow"> Dune Analytics.</a>
Base’s successes position Coinbase at a vantage point amidst the competitive and shifting cryptocurrency market. HTX, formerly Huobi, recently<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/htx-overtakes-coinbase-in-spot-trading-volumes/" rel="noopener noreferrer nofollow"> surpassed</a> Coinbase in spot trading volumes. Tron founder Justin Sun, an adviser to HTX,<a style="color: #0000ff;" href="https://x.com/justinsuntron/status/1795120598831583287" rel="noopener noreferrer nofollow"> announced</a> this milestone on May 27, citing data from CoinGecko.&nbsp;
Currently, HTX manages<a style="color: #0000ff;" href="https://www.coingecko.com/en/exchanges" rel="noopener noreferrer nofollow"> approximately</a> $2.4 billion in daily spot trading volumes, ranking it as the fourth-largest crypto exchange globally, behind Binance, Bybit, OKX, and Gate.io.&nbsp; Coinbase, facing multiple legal challenges in the U.S., now trails HTX and Bitrue with around $2 billion in spot trading volumes.
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The post <a href="https://defi-planet.com/2024/06/base-leads-ethereum-layer-2-networks-in-transactions-and-profit-for-third-consecutive-month/" rel="noopener noreferrer nofollow">Base Leads Ethereum Layer-2 Networks in Transactions and Profit for Third Consecutive Month</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Base Leads Ethereum Layer-2 Networks in Transactions and Profit for Third Consecutive Month

DeFi Planet

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