The Ethereum layer-2 network Base has exceeded $8 billion in total value locked, surpassing Optimism’s OP Mainnet. As of June 10, L2Beat data reveals a TVL of $8.05 billion, with $2.14 billion bridged from Ethereum to Base and $5.92 billion in native assets. Base, supported by Coinbase, is now the second-largest Ethereum scaler in TVL after Arbitrum One. Since its launch in August, Base has grown rapidly, reaching $1 billion in TVL on Feb. 27. It leads in transactions per second at 30.36, processing 64.86 million transactions in the last month. Despite a decrease in on-chain profits to $6.98 million in May, Base remains the most profitable Ethereum layer 2. However, the network faced challenges with scammers exploiting its popularity with memecoins, resulting in a significant increase in phishing scams. Analysts predict Ethereum layer-2 scaling networks could reach a $1 trillion market cap by 2023. Read more AI-generated news on: https://app.chaingpt.org/news