Coinbase-backed Ethereum layer-2 network, Base, is experiencing rapid growth following the launch of its Smart Wallet. This self-custodial solution aims to bring over 1 billion users on-chain.
Base recorded the highest daily transactions among Ethereum layer-2 networks on June 4, surpassing Arbitrum and Optimism. According to GrowThePie, Base’s transactions reached 2.7 million, a 7.1% increase.
Base also processes an average of 31.37 transactions per second (TPS), more than Arbitrum’s 22 TPS, as shown by L2Beat. This surge has led to a total value of assets locked (TVL) increase by 8.68% to $7.64 billion, nearing Optimism’s $7.76 billion.
Additionally, Dune Analytics data reveals Base as the highest-earning layer-2 network in recent months. It earned $16.88 million in March, $12.90 million in April, and $6.98 million in May.
Coinbase’s Smart Wallet simplifies onboarding and reduces transaction complexity, supporting eight networks, including Base, Ethereum, and Optimism.
Base’s rapid adoption showcases its strategic potential in the evolving blockchain ecosystem.
