Base officially surpasses OP to become the third largest Ethereum Layer 2

This site (120Btc.coM): Base, the Ethereum Layer 2 second-tier network developed by Coinbase, has recently seen a significant increase in its total lock-up value (TVL), surpassing OP Mainnet and becoming the base-based The largest Layer2 network in OP Stack.

Base becomes the third largest L2

Base rose rapidly after its public release in early August 2023. According to DeFiLlama, Base’s total locked value has now reached $1.7 billion, up more than 10% since the beginning of May. This growth makes Base the third largest Layer 2 blockchain in TVL after Arbitrum ($3.81 billion) and Blast ($2.26 billion), surpassing OP.

The source of the surge in Base TVL

Multiple decentralized applications (dapps) have brought growth to Base’s TVL. Decentralized exchange Aerodrome is a major contributor, with $714 million in deposits. Followed by Uniswap, which contributed $312 million in deposits.

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