[Base Network has grown steadily, with TVL exceeding US$735 million]
Base Network, incubated by Coinbase, shows continued growth, albeit at a slower pace. L2Beat data shows that Base’s total value locked (TVL) recently reached $735 million, with weekly growth of 4%. Since its launch in August 2023, TVL has grown from $592 million to over $600 million.
In addition, Base's user engagement has steadily increased, with the number of users exceeding 2.5 million on November 1 and reaching 3 million on December 22. The number of daily active users has soared from 70,000, showing the positive growth of the community. Ethereum’s daily trading volume has also grown significantly, from 1 ETH in November to 79,354 ETH in December.
Base uses Optimistic Rollup technology to support diverse decentralized applications, with a daily transaction speed of 3.45 TPS and more than 6.97 million transactions completed within 30 days. However, Base also encounters challenges, such as token scams and service outages. On September 5, Base experienced its first 43-minute service outage.
Base's growth is significant compared to industry leaders Arbitrum One (TVL $8.7 billion) and Optimism (TVL $5.73 billion). Its fluctuating TVL may be related to its recent launch, limited DeFi protocol selection, and early scam issues.
Despite the challenges, Base's rapid growth in users and transaction volume, as well as an increase in daily transaction volume, demonstrate its stable interest and development potential.