The post Base Becomes Largest Ethereum Layer 2 with $2.5 Billion TVL appeared on BitcoinEthereumNews.com.

Base, Ethereum’s Layer 2 (L2) scaling solution, has reached a new milestone, becoming the largest L2 network by Total Value Locked (TVL). According to the latest data from DeFiLlama, Base has hit an all-time high TVL of approximately $2.5 billion, surpassing other Ethereum L2 solutions and establishing itself as the dominant force in the Layer 2 ecosystem. Base is now the Largest L2 ✈️@base has reached an all-time high in TVL of ~$2.5 billion, according to @DefiLlama, making it the largest Ethereum Layer 2. Aerodrome accounts for just over half of this TVL, servicing multiple liquidity needs for protocols and traders. 🔵 pic.twitter.com/LtJeZb4KAB — Aerodrome (@AerodromeFi) October 16, 2024 According to the firm’s report, this impressive achievement underscores Base’s rapid growth within the Ethereum ecosystem. Launched by Coinbase, Base has been instrumental in alleviating network congestion on the Ethereum mainnet, offering users faster transactions and lower fees while maintaining Ethereum’s security and decentralization. Hitting $2.5 billion in TVL places Base at the forefront of Ethereum Layer 2 solutions, surpassing major competitors like Arbitrum and Optimism. The surge in TVL highlights the growing demand for scalable blockchain solutions that cater to Ethereum’s vast ecosystem of decentralized applications (dApps) and DeFi protocols.  Aerodrome’s Role in Base’s Success One of the key contributors to Base’s record TVL is Aerodrome, which accounts for just over half of the $2.5 billion locked in the network. Aerodrome, a decentralized liquidity layer, had become a significant player in Base’s ecosystem by facilitating liquidity provision for various protocols and traders on the platform. The aerodrome’s ability to efficiently service multiple liquidity needs has made it an integral part of the Base’s infrastructure. It attracts significant capital and liquidity from users seeking to maximize yield and optimize their trading strategies. Its over $1.25 billion contribution to Base’s TVL signals…

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Filed under: News - @ October 17, 2024 6:26 am