BASE, an Ethereum Layer 2 (L2) chain, has achieved a significant milestone by surpassing $10 million in cumulative revenue since its launch in early August 2023.
As a Layer-2 scaling solution developed on the Optimism technology stack, BASE provides a secure, cost-effective and developer-friendly environment for on-chain development. Thereby, contributing to its rapid growth and success.
Notably, Erick Smith, Chief Investment Officer at 401Financial, shared the exciting news via a recent tweet, stating, “Base just crossed $10 million in cumulative revenue since launch,” alongside data showcasing around 1 million active monthly addresses, as retrieved from the token terminal.
Furthermore, BASE’s success is not only reflected in its revenue but also in its ability to attract assets and ongoing revenue generation. Fuul, notably the latest addition reported to have launched on the BASE platform, further solidifies its position as a preferred choice for developers and projects seeking a reliable Layer 2 solution.
BASE Total Value Locked Hits $583 Million
However, according to insights from the Defi Operating System, Velvet Capital, BASE holds the third position in terms of Total Value Locked (TVL), with a substantial $583 million. While trailing behind Arbitrum One ($7.3 billion) and Optimism Mainnet ($3.66 billion) in TVL, BASE’s impressive standing underscores its significance in the Ethereum Layer 2 ecosystem.
The achievement of surpassing $10 million in cumulative revenue signifies not only BASE’s financial success but also the broader acceptance and adoption of Layer 2 scaling solutions within the Ethereum community.
As the crypto space continues to evolve, platforms like BASE play a crucial role in addressing scalability challenges and providing efficient solutions for decentralized applications. Therefore, the data-driven success and adoption metrics position BASE as a key player in the ever-expanding landscape of Ethereum Layer 2 technologies.
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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