Base has overtaken Arbitrum as the top Ethereum rollup by total value locked (TVL), placing it among the leading blockchains, just behind Ethereum, Tron, Solana, and BNB Chain.

What's the Scoop?

• Base TVL Growth: Base’s TVL sits at $2.49B, slightly ahead of Arbitrum’s $2.41B, as per DefiLlama.
• Aerodrome Dominance: MetaDEX Aerodrome accounts for over $1.35B of Base’s TVL, driving much of its growth.
• User Activity Lead: Base also leads in user activity, with approximately 1.35M daily active addresses, the highest among L2s.

Bankless Take:

Base’s rapid growth showcases the power of Coinbase’s marketing engine for crowning the rollup as a dominant player in L2s. As the market pushes up upward,  this momentum may signal that Base has become the de facto arena for Ethereum, or at least the environment most likely to benefit from ETH’s increasing price, as we discussed in May. Given the firepower Coinbase has in its arsenal, as well as Base’s continuous climb despite being one of the younger L2s, it is likely the chain will continue this run.

Source : Bankless - Oct 15, 2024