• Base secured sixth position in TVL over Blast.
  • Ethereum tops the list with $58.594 billion, according to DefiLlama.

Base, the Ethereum layer-2 blockchain developed by a U.S. crypto exchange Coinbase, has marked a remarkable surge in its total value locked (TVL), surpassing Blast. According to DefiLlama, Base’s TVL stands at $1.549 billion and Blast’s TVL at $1.525 billion, a one-day change of 1.56% and 5.75% respectively.  

Total value locked (TVL) is an important metric used in the cryptocurrency sector that allows investors to gauge the popularity and activity of a decentralized finance platform or application. The total value locked on a chain is calculated by summing the total value of digital assets locked on a specific DeFi platform or dApp.

Base and Blast have experienced a remarkable rise in their TVL , and factors like security features, and strategic partnerships might contribute to the increasing TVL. In the TVL list, Ethereum stands on top with $58.594 billion, followed by Tron with $7. 659 billion. Binance Smart Chain, Solana, Arbitrum, Base, and Blast follows next. 

Recent Developments

Recent research by Token Terminal mentions that Base reached a new user base. The user inflows have risen since the start of 2024, and 25% of the users are retained for more than a month. The “onchain summer” campaign influenced the expansion of Base users, more than 500K wallets interacted with the blockchain. Base, with 270,000 users on June 17th, set a new record for the most daily active users on decentralized exchanges (DEX). 

Meanwhile, Blast , an Ethereum layer 2 blockchain network, recorded all-time highs in daily transactions and active users last week.

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