Base, a Layer 2 network incubated at Coinbase, has grown its total value locked to $1.7 billion, marking a 20% increase since May’s start.
Base — a Layer 2 Ethereum network incubated at Coinbase — saw its total value locked within dapps surge to enter the top three chains by deposits.
The Base mainnet became publicly available in early August 2023 and has since risen to become the third most valuable Layer 2 blockchain in terms of TVL, trailing Arbitrum, with $3.81 billion in value locked, and Blast, with $2.26 billion, data shows. Decentralized exchange Aerodrome continues to contribute to Base’s surge in total value locked, with $714 million in deposits, followed by Uniswap at $312 million.
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