In the absence of expectations for currency issuance, the Base chain has still become a super competitive network in the Layer 2 field. L2BEAT data shows that the Base chain market share has reached 16.08% (data as of June 5), with only a small gap of 0.42% from OP Mainnet’s 16.50%. In addition, an important indicator to measure the value of a chain is the total value locked (TVL). Currently, Base TVL has reached 7.6 billion US dollars, ranking third in Layer 2, with a year-on-year increase of 6.56%.

According to DefiLama, the most significant growth occurred between mid-March and April, when TVL grew from $695 million to $1.66 billion, an increase of 138.85%. TVL currently remains at around $1.7 billion.

It is worth mentioning that the number of new users, active users and transactions of the Base chain all hit new highs in mid-to-late March. The main reason was related to the popular MEME craze at the time and Base integrated EIP-4844 (March 14) Later, the handling fee dropped significantly and on March 30, Sartoshi, the founder of the NFT project Mfers, announced on X that he would issue his own meme token mfercoin on the Base chain, causing a 100-fold miracle in 6 hours.

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