Coinbase's Base blockchain has shown significant progress in its competition with Arbitrum on the Ethereum L2 platform, moving closer to becoming its largest network.

Financial Indicators of Base and Arbitrum

An IntoTheBlock Twitter post suggests that Base's Total Value Locked (TVL) might soon surpass Arbitrum. Data from DeFiLlama shows that Arbitrum's TVL is $2.595 billion, about $337 million ahead of Base. Base's TVL has already reached substantial $2.358 billion, and experts estimate that the platform can quickly close this gap due to high user inflow and transactions.

Competitive Advantages of Base

Base gains popularity due to competitive transaction fees and high speed, as well as its use of the OP Stack platform for an easier transition for developers from Ethereum. The use of the 'rollups' mechanism, which unifies transactions into a single batch for validation on Ethereum's Layer-1, makes Base more accessible and scalable, especially due to its connection with Coinbase.

Expanding Ethereum L2 Ecosystem

The Ethereum L2 ecosystem continues to expand with new entrants like Unichain, aimed at reducing transaction costs and improving user experience. Analysts expect more strengthening solutions to emerge, effectively addressing liquidity and user interaction challenges.

Coinbase's Base is significantly advancing towards the top position in the Ethereum L2 market, offering low costs and high transaction speeds, making it attractive for users and developers.