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Coinbase’s Ethereum layer-2 protocol, Base, has recorded a significant rise in its total value locked once again, hitting $558 million this time.from Ethereum layer-2 analytics platform L2Beat, Base’s TVL surged by more than 25% in the past seven days, surpassing Matter Labs’ zero-knowledge rollup tech-powered scaling solution, zkSync Era, for the second time.Since Base’s launch two months ago, the network has seen tremendous growth and development, hitting several milestones.
Following Circle’s announcement, the company burned the USDbC on the Base network in preparation for the native USDC launch. The burn reduced 160 million USDbC to roughly 30 million within a day and heavilyIn contrast, the TVL of zkSync Era rose by 15% and surpassed Base, which fell to the fourth position on the list of Optimistic rollups. Among the top five, Base was the only project in red.
With the re-minting of native USDC on the Base, the network’s TVL has risen again, beating zkSync Era, currently at $435 million.Base has been on fire since August despite the current bear season. Last month, the network and zkSync Era surpassed Ethereum’s Transactions Per Second rate of 10.18.that within a certain week, Base recorded a 49% increase and achieved a TPS of 12.93, while zkSync Era followed closely with a TPS of 12.62.
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