Base TVL Surges 76% Amidst New DeFi Protocol Hype
On Friday, August 31, Base’s total value locked (TVL), an Ethereum layer 2 (L2) network created by well-known cryptocurrency exchange Coinbase, reached unprecedented heights. This increase was brought on by the decentralised exchange (DEX) platform Aerodrome’s recent launch and increasing excitement.
Decentralised finance (DeFi) deposits overall have increased by approximately 76% over the last 24 hours, setting a new record high. The network’s TVL is currently $346.39 million, up from $196.8 million a day earlier, according to data from DefiLlama.
Base has surpassed Solana in ninth place and into the top 10 blockchains with the largest TVL. With a market cap of about $22.1 billion, Ethereum continues to be the leading network in the decentralised finance sector. Since the network’s public mainnet launch, its TVL has increased by nearly 733%. Trading costs have decreased by more than 94%, although the growth was stimulated by the Friend.tech hype, which was short-lived. Base’s DeFi deposits have recently increased as a result of increased interest in the Aerodrome protocol, which only recently became live on the blockchain.
(With inputs from Shikha Singh)
You need to login in order to Like
