Coinbase’s Base Network Surges with $1 Billion in TVL
Coinbase's L2 network, Base, is seeing a surge in activity, boasting a Total Value Locked (TVL) of $1 billion.
Base is emerging as a prominent player in the L2 network arena, attracting a growing number of participants and holding their attention, as evidenced by the network’s TVL.
What sets Base apart is its robust security measures, including the ability to halt specific transactions or blacklist wallets when necessary. This feature proved invaluable during the recent Munchables hack, where Base’s L2 censoring at the sequencer level helped prevent a loss of $60 million.
A closer examination of Base’s TVL reveals the total value of assets locked within the network, encompassing various cryptocurrencies deposited by users. Surpassing the $1 billion milestone indicates a substantial influx of funds into Base, signaling its rapid growth and increasing user interest.
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Moreover, Base has gained a reputation for security following its successful handling of the Munchables hack. This has bolstered confidence in the platform, attracting developers to build robust decentralized finance (DeFi) projects on Base. Despite not being the most unique network, Base’s reputation for security and its growing ecosystem of DeFi projects are keeping users engaged.
Overall, Base is currently enjoying significant attention, with its high TVL serving as concrete evidence of its growing popularity and influence in the crypto space.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
