Coinbase Base Network Surges in TVL

Coinbase Base Network Surges in TVL, Approaching $2 Billion Milestone

See how the Coinbase Base Network surges in TVL, exhibiting impressive expansion and approaching the $2 billion barrier in total value locked. Coinbase’s Base Network, an Ethereum (ETH) Layer 2 solution, has witnessed a significant surge in its total value locked (TVL), nearly doubling user deposits to almost $1 billion. The decentralized exchange Aerodrome (Aero) contributes the largest share of TVL, accounting for about half of the network’s total.

Coinbase Base Network surges in TVL

Aerodrome, operating on Base, has experienced remarkable growth, increasing its TVL from $125 million to over $420 million since early February. Velodrome Finance, the team behind Aerodrome, introduced the decentralized exchange as a forked version on Base in September 2023.

Aerodrome aims to enhance on-chain liquidity on Base and facilitate a significant portion of network swaps using DeFi incentives and governance through voting, similar to Velodrome on the OP Mainnet.

4th Most Valuable Layer 2 Network

Base’s mainnet launched publicly in August 2023, quickly becoming the fourth most valuable Layer 2 network by TVL, surpassing networks like Arbitrum (ARB), Optimism (OP), and Blast. The Dencun update for Ethereum’s Layer 2 networks led to a surge in daily users and transactions on Base, reaching record levels.

The rise in TVL and user activity on Base highlights the increasing demand for Layer 2 solutions in the Ethereum ecosystem, offering scalability and lower transaction fees than the Ethereum mainnet. Supported by Coinbase, Base continues strengthening its position in the Layer 2 space, providing users with efficient and cost-effective decentralized exchange services.


To conclude, Coinbase’s Base Network has demonstrated impressive growth in total value locked, with Aerodrome playing a significant role in this expansion. As the fourth most valuable Layer 2 network, Base has capitalized on the Ethereum ecosystem’s demand for scalable solutions, showcasing its ability to provide efficient and cost-effective decentralized exchange services with the support of Coinbase.

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