COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Coinbase’s Base Network Sees Surge in Total Value Locked
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Altcoin News > Coinbase’s Base Network Sees Surge in Total Value Locked
Altcoin News

Coinbase’s Base Network Sees Surge in Total Value Locked

In Brief

  • Coinbase's Ethereum Layer 2 network Base doubles user deposits.

  • Aerodrome's TVL contributes nearly half to Base's nearly $1 billion TVL.

  • Base strengthens its position with efficient, low-cost decentralized exchange services.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

The US-based giant cryptocurrency exchange Coinbase‘s Ethereum (ETH) Layer 2 network Base has seen a significant increase in the total value locked (TVL) on the network. User deposits on the network have nearly doubled, reaching almost 1 billion dollars, and data shows that the lion’s share of the TVL comes from the decentralized cryptocurrency exchange Aerodrome (Aero).

Contents
The Rise of Aerodrome and Aero TokenThe Impact of Ethereum’s Dencun Update

The Rise of Aerodrome and Aero Token

According to data from DeFiLlama, Base’s TVL, which is close to 1 billion dollars at 970 million dollars, is largely contributed by the decentralized cryptocurrency exchange Aerodrome, with a TVL of 424 million dollars, which constitutes about half of the total TVL on the network.

The decentralized cryptocurrency exchange Aerodrome, operating on Base, has achieved significant growth by constituting nearly half of Base’s TVL. Its TVL, which was 125 million dollars at the beginning of February, has risen above 420 million dollars due to increased user activity and a significant increase in the value of Aerodrome’s native asset, the Aero token.

The development team behind Aerodrome, Velodrome Finance, introduced the decentralized exchange as a forked version on Base in September 2023. Aerodrome’s goal is to increase on-chain liquidity on Base and facilitate a significant portion of the swaps on the network using decentralized finance (DeFi) incentives and governance by voting, similar to its strategy with Velodrome on the OP Mainnet.

The Impact of Ethereum’s Dencun Update

As is known, Base’s mainnet was launched to the public at the beginning of August 2023 and became the fourth most valuable Layer 2 network in terms of TVL, surpassing networks like Arbitrum (ARB), Optimism (OP), and Blast. Following the significant Dencun update for Ethereum’s Layer 2 networks, there was a sudden increase in daily users and transactions on the network, reaching record levels.

The increase in TVL and user activity on Base reflects the growing demand for Layer 2 solutions in the Ethereum ecosystem, which offer scalability and lower transaction fees compared to the Ethereum mainnet.

With the support of the cryptocurrency exchange Coinbase and the success of projects like Aerodrome, Base continues to strengthen its position as a significant player in the Layer 2 space by offering users efficient and cost-effective decentralized exchange services.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

OpenAI Alerts: Spot Unauthorized Coins and Ensure Your Security!

Crypto Markets Surge as Historical Patterns Resurface

Circle Tackles Liquidity with Innovative Blockchain Solution

Crypto Enthusiast Predicts Potential Surge in SUI and PYTH Prices

Cryptocurrencies Surge: XRP, SOL, and ADA Take Center Stage!

COINTURK NEWS 26 March, 2024 - 10:23 am 26 March, 2024 - 10:23 am
Share This Article
Facebook Twitter
Share
Previous Article Bakkt Reports Significant Revenue Growth Despite Net Loss
Next Article Dogecoin vs Rebel Satoshi ($RBLZ): This Week’s Top Memecoin Pick
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Seize Crypto Opportunities Every Second with Cutting-Edge Tools
Cryptocurrency News Dogecoin (DOGE)
Crypto Market Signals Point to a Resurgence
Ethereum (ETH)
US Treasury’s Remarks Stir Crypto Market Dynamics
Cryptocurrency News
The Surging Potential of SOL Coin: Why Experts Are Optimistic
Solana (SOL)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?