Since its launch in August, Coinbase’s Layer 2 network, Base, has showcased a notable performance. Just a day after its launch, the platform reached 136,000 active users and continues to grow.
According to data from DefiLlama, Base’s TVL increased by 97.21% in the past month. With this growth, Base achieved a TVL of $397.32 million, surpassing Solana’s TVL of $358.96 million. During this period, Solana’s TVL experienced a decrease of 9.64%.
Base’s Prominent Local Projects: Aerodrome Finance and Friend.tech
The majority of the total locked value (TVL) on the Base platform is accounted for by two local Base projects. Aerodrome Finance leads the list with a TVL of $97.83 million, followed closely by Friend.tech, a social media application, which has a TVL of $36.53 million.
However, the growth in Base’s TVL isn’t driven by these two projects alone. Well-known decentralized finance platforms like Compound, Curve, and Uniswap also hold a significant position within Base.
According to BaseScan data compiled by Cointelegraph, Base hit a historical record on September 14th with 1.88 million daily transactions. However, as of today, Base’s daily transactions have declined to approximately 908,000.