Coinbase’s Base Surpasses Ethereum and Arbitrum in Daily Transactions
Coinbase's Layer-2 scaling solution, Base, has recently showcased impressive performance, surpassing Arbitrum and Ethereum in daily transaction volume.
Base, according to L2Beat data, has processed 45.21 million transactions in the past 30 days, outpacing Arbitrum One at 38.58 million and Ethereum at 37.93 million. Notably, Arbitrum Nova leads with a 30-day transaction count of 81.31 million.
Coinbase’s Base Total Value Locked (TVL) now stands at $3.89 billion, marking a significant increase of 19.96% in transaction volume over the past seven days. This growth outpaces Arbitrum One and Ethereum. Arbitrum One’s TVL has experienced a decline of 4.87%, reaching approximately $18.45 billion.
READ MORE: Bitcoin Mining Stocks Experience Volatility
Ethereum’s TVL has decreased by 4.24% to $40.02 billion compared to seven days ago. While Ethereum’s L2 Arbitrum previously led the list, Base has suddenly overtaken it, despite recent network congestion challenges.
Base achieved a daily Transactions Per Second (TPS) of 35.16, marking a notable 36.12% increase, while Arbitrum and Ethereum recorded 17.80 and 14.38 TPS respectively. Zora also experienced a significant TPS increase of over 700%, reaching 10.95.
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.
