The Ethereum L2 network continues to bloom because Base has recently achieved a different success. According to the data from the token terminal, the annual GDP of the L2 network base incubated by Coinbase $ 1 billion has exceeded because the user spending has reached a total of $ 110 million in January. The crypto analysis company revealed this development on social media.
🚨 @base’s annualized GDP crosses $ 1 billion
In January ’25, users on the basic L2 spent a total of ~ $ 110 million: ~ $ 96 million in apps & ~ $ 14 million on L2 TX costs
GDP chain measures how much the end users have paid to communicate with the applications of the chain in a certain period pic.twitter.com/b7fzswtzyo
– token terminal We rent! (@Tokenderminal) February 8, 2025
Annual GDP from Base L2 surpasses $ 1 billion, while user spending affects $ 110 million in January
Token Terminal pointed out that significant increase in the base layer-2 ecosystem due to the growing user spending. It added that the cumulative consumer spending during this month above $ 110 jumps. As a result, the annual GDP of the platform exceeded the milestone of $ 1 billion. The respective expenditure was divided into $ 14 million for L2 transfer costs and $ 96 million for app costs. This means the increased acceptance of Dapps developed in the ecosystem. In addition, KettingBBP has also included a persistent upward movement for the mid -2023.
The market data indicate significant growth of the base during the past eighteen months. After a modest early mid-2023, the ecosystem witnessed a peak in expenditure in September, after which periodic peaks took place in March and May last year, nevertheless the at the end of 2024 registered the most substantial progress, which led to an ATH expenditure in January. In addition, Base’s aggregated GDP, taking into account the total of the costs spent on the ecosystem of the base, has expressed a robust upward trend.
Milestone reinforces the status of the platform and further expansion
According to the data from the token terminal, the transfer costs on the base indicate a relatively stable position. Nevertheless, the primary growth friend has the demand for the decentralized applications that are active in the ecosystem. Because the annual GDP of Base L2 has now exceeded $ 1B, the platform strengthens its position and ecosystem expansion.