Creative Rewording: Base Surpasses Ethereum and Arbitrum in Monthly Transaction Volume, TVL Crosses $4 Billion

Creative Rewording: Base Surpasses Ethereum and Arbitrum in Monthly Transaction Volume, TVL Crosses $4 Billion

Creative Rewording: Base Surpasses Ethereum and Arbitrum in Monthly Transaction Volume, TVL Crosses $4 Billion

According to a report by Cointelegraph, Base, the Ethereum Layer 2 blockchain created by cryptocurrency exchange Coinbase, has seen a surge of over 13.2% in total value locked (TVL) in the past week, surpassing $4 billion for the first time. At the same time, Base’s 30-day transaction volume has exceeded that of the Ethereum mainnet and its main competitor Arbitrum.

Data from L2BEAT shows that Base’s total TVL has reached $4.17 billion, including $1.46 billion in Cross-bridge value (CBV) and $2.7 billion in native minted assets. In terms of TVL, Base is currently the third-largest Ethereum Layer 2 network, surpassing its fourth-ranked competitor Blast by approximately $1.4 billion, but lagging behind the second-ranked Optimism by around $3.5 billion, and the first-ranked Arbitrum by approximately $14.6 billion.

Among the top five Layer 2 networks in terms of TVL, Base is the only network that has seen growth in the past week. Starknet has experienced the largest decline in TVL, approximately 9%, while Optimism, Arbitrum, and Blast have declined by 8.28%, 4.91%, and 1.8% respectively.

Base’s TVL growth has been achieved against the backdrop of a significant increase in trading activity. Its 30-day transaction volume has reached 50.5 million transactions, surpassing Arbitrum’s 40.17 million and Ethereum’s 37.87 million. Base’s average daily transactions per second (TPS) have increased by 29.7% this week, reaching an average of 36 TPS in the past day.

Base has also been one of the main beneficiaries of recent memecoin activities. According to data from CoinGecko, the total market value of memecoins on Base has exceeded $1.6 billion. However, Base’s popularity has also attracted scammers, with the amount of funds stolen due to phishing scams on the network increasing 18 times from January to March this year, with $3.35 million stolen last month.