Base Emerges As Top Contender Surpassing Solana In TVL Rankings<\/span><\/h2>\nIn a noteworthy development for the exchange and its new Layer-2 (L2) blockchain, Base has emerged as a formidable contender, surpassing Solana in terms of Total Value Locked (TVL).\u00a0<\/span><\/p>\n
According to the latest <\/span>statistics <\/span>from Defillama, Base, Coinbase’s L2 solution boasts a TVL of $370 million, surpassing Solana’s $310 million. This achievement signifies an important milestone for Base, highlighting its growing prominence and influence in the industry.<\/span><\/p>\n
Notably, Base’s TVL positions it ahead of prominent blockchains such as Cronos, Kava, Defichain, Bitcoin, Fusion, Pulsechain, and Cardano. With its current TVL, Base accounts for approximately 0.96% of the overall $38.14 billion TVL in the DeFi space.<\/span><\/p>\n
<\/p>\n
Base has secured its place among the top protocols regarding TVL, ranking just behind Mixin, Polygon, Avalanche, Optimism, Arbitrum, BSC, Tron, and Ethereum. This accomplishment highlights the growing prominence of Coinbase’s L2 blockchain within the DeFi landscape.<\/span><\/p>\n
Data from Dune Analytics reveals that since its L2 launch, Base has successfully <\/span>bridged <\/span>a total value of $426.81 million. Of this, 54.4% or $232.19 million comprises 143,467 ether, demonstrating strong support and adoption from the Ethereum community.\u00a0<\/span>Additionally, approximately 27.2% of the bridged assets to Base consist of 115,993,548 USDC stablecoins.<\/span><\/p>\n
<\/p>\n
However, it is not all good news for the firm. Coinbase stocks, traded under the name COIN, are experiencing a significant decline that has been ongoing since July 20.\u00a0<\/span><\/p>\n
The stocks have declined from the $111 level, followed by the lawsuit filed by the US Securities and Exchange Commission (SEC) against the firm and Binance. Presently, the exchange’s stocks are trading at $71.78.<\/span><\/p>\n
Featured image from iStock, chart from TradingView.com\u00a0<\/span><\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
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