Base Network’s TVL Surpasses $2 Billion

The total value locked (TVL) in the Base network has, for the first time, exceeded the $2 billion mark.

Supported by the Coinbase exchange, the network has secured the second position in terms of funds among L2 solutions and ranks sixth among all blockchains.

At the start of the year, TVL Base was approximately $430 million, and by the end of September, it had surged by 370%. The decentralized exchange Aerodrome contributed the most to this growth, with over $1 billion locked in. Following is Uniswap with $221 million.

Since October 2023, Uniswap’s market share in the DEX sector has decreased from over 50% to 36%. The platform has ceded some of its positions to Aerodrome (7%) and Orca (12%).

Despite Arbitrum’s leadership in total value locked among L2 solutions, Base significantly outpaces its competitors in transaction numbers and active addresses.

In September, Coinbase launched the “wrapped” bitcoin cbBTC on the Base and Ethereum blockchains and planned to release the tool on the Solana network.