Base Network Takes the Lead

Since its launch in August, Coinbase’s layer-2 network, Base, has experienced explosive growth, boasting a total value locked (TVL) of $397.32 million. This impressive figure now places Base ahead of Solana, which currently holds a TVL of $358.96 million. It’s almost as if Base is saying, “Hold my beer!” while others struggle to keep up.

A Monthly Surge Like No Other

The numbers have been eye-popping—Base’s TVL has climbed a staggering 97.21% in just the past 30 days. Meanwhile, Solana, bless its soul, has seen its TVL dip by 9.64%. It’s clear that Base has been throwing some serious weight around in the DeFi space, and it’s not slowing down.

Leading the Charge: Top Projects on Base

Two projects are cashing in on the Base momentum and leading the TVL charts.

• Aerodrome Finance: This decentralized exchange has become the crown jewel of Base with a TVL of $97.83 million. Launched on Aug. 28, Aerodrome initially struggled but saw a meteoric rise, with $150 million in deposits on Aug. 31 alone. However, after reaching a peak of $200 million on Sept. 2, the excitement seems to have ebbed, with a noticeable 51% decline since then.
• Friend.tech: The decentralized social media app that tokenizes social connections has also gotten in on the action, boasting a TVL of $36.53 million. Despite facing calls of being “dead” just a few weeks back, Friend.tech experienced a phenomenal 540% surge over the past month, reminding everyone that the internet never forgets… and neither do its trends.

The Daily Grind: Transaction Peaks

As if being the newest star in the DeFi universe wasn’t enough, Base also hit a new all-time high for daily transactions on Sept. 14, logging 1.88 million transactions in a single day. That’s more than enough to make its rivals, Optimism and Arbitrum, green with envy (who collectively had about 880,000). However, the hustle didn’t last forever, and daily transactions have since settled to around 908,000 as of Sept. 22. The rollercoaster never ends!

What’s Next for Base?

With these impressive numbers under its belt, the future appears to be bright for Base. The platform not only leads in TVL but has also attracted significant user activity. It remains to be seen if this upward trajectory can be maintained or if it will face the typical market turbulence that often comes with such rapid growth. Spoiler alert: riding high is fun until the rollercoaster takes a dive!