- Base secured sixth position in TVL over Blast.
- Ethereum tops the list with $58.594 billion, according to DefiLlama.
Base, the Ethereum layer-2 blockchain developed by an American crypto exchange Coinbase, has marked a notable increase in total value locked (TVL), surpassing Blast. According to DefiLlama, Base’s TVL is $1.549 billion and Blast’s is $1.525 billion, a one-day change of 1.56% and 5.75%, respectively.
Total Value Locked (TVL) is a key metric used in the cryptocurrency industry that allows investors to gauge the popularity and activity of a decentralized finance platform or application. The total value locked on-chain is calculated by adding the total value of digital assets locked on a specific DeFi platform or dApp.
Base and Blast have experienced notable increases in their TVL, and factors such as security features and strategic partnerships may contribute to the increasing TVL. In the TVL list, Ethereum is at the top with $58.594 billion, followed by Tron with $7. 659 billion. Binance Smart Chain, Solana, Arbitrum, Base and Blast follow.
Recent developments
Recent research from Token Terminal shows that Base has reached a new user base. The influx of users has increased since the beginning of 2024 and 25% of users are retained for more than a month. The ‘onchain summer’ campaign influenced the expansion of Base users; more than 500,000 wallets interacted with the blockchain. With 270,000 users, Base set a new record for the most daily active users on decentralized exchanges (DEX) on June 17.
Meanwhile, Blast, an Ethereum layer 2 blockchain network, recorded record highs in daily transactions and active users last week.