Base Surpasses Optimism with $8 Billion in Total Value Locked

The total value locked (TVL) in the Ethereum Layer 2 network Base has exceeded $8 billion, surpassing the OP Mainnet from the Optimism team.

According to L2BEAT, as of June 10, TVL Base comprises $2.13 billion in canonical value (assets tied to Ethereum) and $5.84 billion in native funds.

The protocol from Coinbase has overtaken OP Mainnet as the largest network in the superchain ecosystem and is now the second-largest Ethereum scaling solution, trailing only Arbitrum One with $18.27 billion.

Over the past month, Base has also outpaced other competitors in transactions per second (TPS) with a rate of 30.36. In comparison, the second-fastest network, Arbitrum One, recorded 23.52 TPS.

In total, Base processed approximately 64.86 million transfers over the past 30 days.

According to the Dune dashboard, the L2 solution has also generated the highest revenue from fees over the past three months. In March, Base’s revenue reached a record $16.9 million.

In May, the figure fell to $6.98 million, yet the network still outperformed Arbitrum One, which had $1.57 million. It is likely that a significant portion of the revenue is linked to the hype around meme tokens.

Earlier, VanEck predicted that the market capitalization of L2 tokens could reach $1 trillion by 2030.

Back in May, Ethereum co-founder Vitalik Buterin called for the creation of a unified interoperability solution for Layer 2 solutions.