As a seasoned researcher with extensive experience in the crypto sphere, I must say that the recent surge of Base is nothing short of impressive. Having closely followed its trajectory since its inception, I’ve witnessed its ups and downs, much like a rollercoaster ride at an amusement park.
As a crypto investor, I’ve noticed an uptick in activity throughout the cryptocurrency market, and it seems the Base network is no exception – it’s picking up steam once more.
Data from L2Beat revealed that Base’s total value locked (TVL) surged by more than 5% over the last week, surpassing $10 billion for the first time, with Aerodome Finance leading the charge reflecting the meme coin trading dominance. Since September’s brief decline below $6 billion, the network’s TVL has grown by over 67% so far.
Recently, Base has soared to take the second spot among Ethereum Layer 2 networks with over $10 billion Total Value Locked (TVL), trailing only Arbitrum. What’s more, on November 24th, Base set a new benchmark for transaction speed, hitting an impressive 106.26 transactions per second (TPS).
This week, the number of on-chain transactions on Base reached over 9 million, and the Layer 2 platform has seen an uptick in weekly active addresses approaching 6.6 million. This suggests a surge in user interaction and expanding adoption.
In periods of heightened usage, it’s common to see an expansion in the market value of stablecoins within blockchain networks. On October 26, Base momentarily took the lead among blockchains for stablecoin trading volume, accounting for over 30% of the total, surpassing established heavyweights such as Solana, Ethereum, and Tron. Nevertheless, by November, a shift occurred within the network, with the amount of stablecoins in its system showing a significant decrease.
By the 23rd of November, Artemis Terminal statistics show that Base is currently the third-largest blockchain for stablecoin transactions, with Solana and Ethereum ahead in the race. It’s worth noting that this trend seems to have started after the election. Anagram partner David Alexander II noted that Arbitrum experienced a 19% increase in total stablecoins on its platform, while Base and Optimism saw declines of approximately 6.6% and 1%, respectively, since November 5th.
Read More
- FARTCOIN PREDICTION. FARTCOIN cryptocurrency
- Skull and Bones: Players Demand Nerf for the Overpowered Garuda Ship
- Gaming News: Rocksteady Faces Layoffs After Suicide Squad Game Backlash
- Mastering the Tram Station: Your Guide to Making Foolproof Jumps in Abiotic Factor
- League of Legends: The Mythmaker Jhin Skin – A Good Start or a Disappointing Trend?
- SUI PREDICTION. SUI cryptocurrency
- ‘The Batman 2’ Delayed to 2027, Alejandro G. Iñarritu’s Tom Cruise Movie Gets 2026 Date
- Honkai: Star Rail Matchmaking Shenanigans and Epic Hand-Holding Moments!
- Smite: Is the Current God TTK Too High? The Community Weighs In!
- What’s Ikora Hiding in Destiny 2? Players Share Their Thoughts!
2024-11-26 01:36