According to L2Beat, which collects Layer-2 blockchain data, the total locked value (TVL) of the Base network increased by 4 percent in one week to $735 million. Material growth on the Coinbase-backed blockchain has also been in line with data such as the number of active users and volume.
According to data shared by Dune Analytics, another market tracker, the number of active users on the Base network has been steadily increasing, surpassing 3 million on December 22, 2023. The daily trading volume of Base, the Ethereum (ETH) layer-2 scaling network, doubled between November and December. The blockchain's transaction volume increased from 36,942 ETH in November to 79,354 ETH today.
Although the blockchain network, which has not yet completed a year, has experienced some interruptions, the fact that Coinbase, one of the largest exchanges in the industry, is behind the project causes crypto lovers to prefer Base.