Protocols in the cryptocurrency market continue to evolve amidst instability and regulatory changes. In this context, Coinbase's layer two solution Base confidently maintains its leading position.
Methodical Dominance of Base
Since the late 2024 rally, Base has secured its leading position among layer two networks in the Ethereum ecosystem. According to Coingecko data, Base recorded $755 million in trading volume over the past 24 hours, $108 million more than its closest competitor, Arbitrum. Regarding total value locked (TVL), Base also leads with $2.71 billion compared to Arbitrum's $2.1 billion. Despite a drop in dollar value TVL since December, the number of locked ETH is on the rise, peaking at 1.9 million ETH.
Other Pillars of Supremacy
Base's success is not limited to volume or TVL. The network's utility indicators show positive results as well. The number of daily transactions has stabilized around 7 million, significantly higher than the levels before November 2024. The stablecoin capitalization on Base reached $1.79 billion in April 2023 and has risen to $4.25 billion in 2024, indicating a high level of liquidity and confidence in Base's infrastructure.
Conclusion on Base's Position
Ultimately, Base does not rely on short-term speculations or announcements. The protocol's strategy is based on organic growth and real user needs. In a rapidly changing market, Base stands out as a reliable player among Ethereum layer two solutions.
Thus, Base remains one of the key solutions in the Ethereum ecosystem, showcasing steady metrics and high demand among users and developers.
