The entire worth recorded on Ethereum’s Stage 2 Base community has surpassed $8 billion — simply days after overtaking Optimism’s OP Mainnet.
Knowledge from L2Beat reveals that its TVL as of June 10 now stands at $8.05 billion, together with $2.14 billion in canonical pooled worth—property locked on Ethereum that might be represented on Base—and 5.92 billion {dollars} of property minted within the nation.
Final week, the Coinbase-backed chain surpassed OP Mainnet as the most important chain within the Superchain ecosystem and is now the second largest Ethereum scaler in TVL behind Arbitrum One at $18.27 billion.
Base hit the $1 billion mark in TVL on February 27, roughly seven months after launching final August. However it has been on a tear ever since, growing eightfold prior to now 104 days.
It additionally leads Ethereum Tier 2 in transactions per second over the previous month at 30.36 — forward of Arbitrum One at 23.52, in keeping with L2BEAT. Over the previous 30 days, the database has processed 64.86 million transactions.
The bottom takes the revenue
In line with “niftytable’s” Dune Analytics dashboard, Base has generated probably the most income on the chain over the previous three months, together with a document $16.9 million for the chain in March.
Its on-chain revenue fell 58.6% to $6.98 million in Could, however nonetheless leads the subsequent most worthwhile Ethereum 2, OP Mainnet, which recorded $1.57 million in revenue final month.
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Most of those features got here from the latest memecoin mania within the first few months of 2024.
Nonetheless, Base’s recognition in memecoins has additionally attracted fraudsters, leading to an 18-fold improve in funds stolen from phishing scams on the community between January and March.
In line with analysts at asset administration firm VanEck, the full market capitalization of the Ethereum Tier 2 networks is anticipated to succeed in $1 trillion by 2023.
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