According to data from L2Beat, the Base network has seen a significant rise in its total value locked (TVL), increasing by 5.16% over the past week to exceed $10 billion.
This achievement makes Base the second Ethereum Layer 2 network to surpass the $10 billion TVL mark, following Arbitrum.
Additionally, on November 24, Base set a new record with a transaction per second (TPS) rate of 104.47, highlighting the network’s growing efficiency.
According to L2Beat, the TVL of the Base network has increased by 5.16% in the past 7 days to exceed $10 billion, becoming the second Ethereum Layer2 network with a TVL of more than $10 billion after Arbitrum. At the same time, on November 24, the TPS of the Base network reached…
— Wu Blockchain (@WuBlockchain) November 25, 2024
In the post-election period, stablecoin activity on Layer 2 networks has also been noteworthy. Arbitrum has emerged as a leader, experiencing a 19% increase in the total stablecoins circulating on its network. In contrast, both Base and Optimism saw declines in stablecoin circulation, with drops of 6.6% and 1%, respectively.
Interesting L2 stablecoin activity post-election. @arbitrum has emerged with an increase of 19% in total stablecoins in circulation on the network, while Base and Optimism experienced declines of 6.6% and 1%, respectively.
Arbitrum now has over $5.2B of stablecoin liquidity, as… pic.twitter.com/ebwRouTN2H
— David Alexander II (@Mega_Fund) November 24, 2024
Arbitrum Comes Out Top In Stablecoin Liquidity
Arbitrum continues to dominate the stablecoin liquidity space, now holding over $5.2 billion in stablecoins. The network also recorded a significant milestone in decentralized exchange (DEX) activity, processing more than $2 billion in daily volume. This marks the highest daily DEX volume Arbitrum has seen since early August, making it the fourth-highest daily volume of the year.
These developments highlight the growing strength of Ethereum Layer 2 solutions, particularly Base and Arbitrum, as they continue to capture more TVL and stablecoin liquidity. While Base shows impressive growth, Arbitrum remains a dominant force in the stablecoin sector, setting the stage for an exciting future for Layer 2 networks as they scale further.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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