Base Ecosystem TVL Hits All-Time High

Coinbase’s Layer 2 (L2) blockchain, Base, has reached an all-time high in total value locked (TVL) over the last 90 days, outpacing competitors like Arbitrum and Optimism.

Base’s TVL increased by 465% from $1.3B to $7.41B, outpacing Arbitrum’s by 13% and Optimism’s by 12%.

The growth on the chain began after the implementation of EIP-4844 in March, which introduced proto-danksharding and reduced gas costs on L2s like Base.

Coinbase’s smart wallet aims to provide a seamless transition for users from centralized exchange accounts to onchain dApps through account abstraction.

Investors and traders are speculating that the retail-friendly smart wallet will help onboard Coinbase’s user base into the world of DeFi. Coinbase’s smart wallet is currently available on testnet, with a potential launch in late June.

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