Base, driven by SocialFi narratives, AI innovations, and the power of memes, has emerged as a standout performer among Layer 2 (L2) chains.
Its growth trajectory is backed by exceptional performance across several key metrics, positioning it as a serious contender in the L2 ecosystem.
DEX Volume and TVL Growth
Base dominates decentralized exchange (DEX) activity, boasting nearly double the trading volume of other L2 chains. Additionally, its total value locked (TVL) has surged by 43% in the past month, putting it on the brink of surpassing Arbitrum in TVL rankings.
Transaction Activity and User Engagement
Since its launch in August, Base has consistently increased transaction volume, with active addresses far outpacing those of its L2 competitors. This growth reflects a thriving user base and heightened activity across the platform.
Stablecoins Market Dynamics
While Base has seen a slight dip in total stablecoin market cap compared to Arbitrum, its stablecoin transfer volume tells a different story. Base processes over five times the transfer volume of other L2s, demonstrating its critical role in facilitating stablecoin liquidity.
Revenue and Cost Efficiency
Base’s financial performance has been impressive, generating over $20 million in revenue over the last 90 days. With a cost of revenue at $1.1 million—18% lower than Arbitrum’s costs for comparable income—it stands out as a more cost-effective platform.
Compare Base With Other L2s
Memes, AI and SocialFi narratives have driven Base growth. Which key metrics does @base lead in compared to other L2 chains? Let’s find out! 🧵👇 pic.twitter.com/a1CqN9z4Be
— CryptoRank.io (@CryptoRank_io) December 11, 2024
Base currently leads the L2 pack in transaction count, active addresses, stablecoin transfer volume, and DEX trading activity. As it continues to grow, its next milestone is solidifying its position as the go-to hub for user liquidity and innovation in the DeFi space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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