Base Surges into Top 3 Layer 2 Networks by TVL, Reaches $1.7 Billion and #2 Rank

Jun 12, 2024, 11:35 AM

Base, an Ethereum Layer 2 chain incubated at Coinbase, has surged into the top three Layer 2 networks by Total Value Locked (TVL). According to DeFiLlama, Base's TVL has risen to $1.7 billion, marking a 20% increase since early May. Base is now consistently the most used Layer 2 network and has become a leading network on platforms such as Uniswap and Aave. Its stablecoin payments are growing exponentially, and smart wallets are starting to gain traction. Base has reached the #2 rank with an impressive TVL of nearly $8 billion.