Coinbase Ethereum Scaling Solution Primed To Become Largest Layer-2 Blockchain by End of 2024: IntoTheBlock
Market intelligence platform IntoTheBlock says Coinbase’s Ethereum (ETH) scaling solution is on track to become the largest layer-2 (L2) blockchain by the end of the year. In a new report, IntoTheBlock says that key metrics indicate Base is experiencing exceptional growth this year. IntoTheBlock first looks at Base’s total value locked (TVL), the metric representing the amount of assets staked or locked in a platform. “Base, the L2 blockchain from Coinbase that has been live for just over a year, is close to surpassing Arbitrum as the largest Ethereum L2 by TVL. In September alone, Base saw an influx of roughly $700 million in TVL. If its current growth trend continues, it will likely be the largest L2 by year-end.” IntoTheBlock also says that additional metrics indicate Base is outperforming other popular L2s, including Optimism (OP) and Arbitrum (ARB). “TVL is not the only metric where Base has seen large gains relative to Optimis...