In the recent past, Layer 2s have gained immense popularity as multiple new networks have been launched in the market. One of the latest in the lot was Coinbase’s own L2, named. The network has witnessed steep growth since its inception and reached new highs. Though Base’s growth was promising, it witnessed a drop in its total value locked in the last seven days., Base’s TVL fell by 16.92% to $445 million in the past seven days.
The rise in key metrics also allowed the L2 to increase its captured value. Artemis’ data also revealed that Base’s fees and revenue increased, suggesting that it was making more profits.Additionally, the total number of unique addresses has also been on the rise. The rollup’s TVL also witnessed a promising surge of over 23% in the last week.While others registered growth, Coinbase’s L2 managed to overtake a few other networks.
At press time, Base’s daily transactions stood at 1.44 million. After a dip, Base’s DEX volume also once again went above that of Starknet, which looked optimistic for the network’s future. On top of that, fees collected by the L2 outperformed zkSync Era on 2 October.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry.