Coinbase-incubated Layer 2 network – Base – is seeing a significant surge in daily activity thereby suggesting growing interest and adoption amidst an improved sentiment in the broader market.
The Base mainnet also saw a recovery in its TVL after nearly two weeks of slump.
Base Layer 2 Growth
Over the past week, Base has seen a remarkable increase in user engagement, culminating in 1,220,883 daily active addresses on July 22nd.
According to IntoTheBlock’s latest findings, this figure is more than double that of its closest competitors, with Arbitrum recording 494,214 daily active addresses and Optimism reaching 445,222 on the same day.
The Base mainnet – which became publicly available last August – has since risen to become one of the key Layer 2 networks. Interestingly, Arbitrum continues to dominate the chart in terms of total value locked (TVL) with $18.07 billion, as per L2BEAT’s data.
However, Base is not far behind, having captured the second position. While the TVL figure on the network witnessed a major drawdown in the first two weeks of July amidst a broader market pullback, it has since recovered and is currently hovering above $7.3 billion as of July 23rd. Over the past three months alone, TVL on Base has surged by almost 60%.
Meanwhile, Optimism closely trailed with $6.86 billion.
Base’s On-Chain Donations Platform for US Politicians
An on-chain donations platform has been designed to enable US politicians to accept crypto contributions directly on the Base network.
As revealed by Jesse Pollak, the lead of the Base network, this new platform in question supports donations in over 240 crypto assets, including major ones like Bitcoin and Ethereum, in addition to traditional credit card payments.
It also boasts a faster and more secure donation method while maintaining full compliance with US regulations. The platform also asserts that its commitment to privacy by collecting only the minimal amount of information necessary to meet compliance standards.
This initiative aims to streamline the donation process, making it more accessible and efficient for both donors and political campaigns.
“Today, the future of digital currencies is being negotiated in Washington D.C. By supporting blockchain-friendly candidates through cryptocurrency, you are championing the future of online currencies. Donate today. Be part of the larger crypto-political movement.”
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