The total value locked (TVL) in Base, the Ethereum Layer 2 (L2) network developed by Coinbase, has more than doubled over the past year.
Base’s TVL has increased from $3.9 billion to $8.4 billion over the last 12 months, according to data from Token Terminal. The surge has made Base the leading L2 blockchain by ecosystem TVL – this refers to the total U.S. dollar value of assets deposited in applications across a blockchain. For context, Ethereum’s ecosystem currently holds $213.9 billion in TVL.
In the past month alone, Base’s TVL has grown by nearly 16%, according to data from Token Terminal. Arbitrum One currently holds the second-highest TVL among L2 networks, followed by Polygon PoS in third.
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