The post Base liquidity inflows rise as TVL beats Ethereum mainnet appeared on BitcoinEthereumNews.com.

Base continues to hit new all-time highs in multiple areas, underscoring its dominance. Base Network Utility Drives Transactions to historic highs Base has been gunning to for the top spot as the leading Ethereum [ETH] layer 2 network. It has been on an impressive growth journey so far this year, and recent observations indicate that it is solidifying its leading position. Base TVL highlights just how much growth the network has achieved so far. It has been on an overall uptrend in the last 12 months, and it continues to climb. Base’s TVL soared to a $2.30 billion this week, which is officially the highest total value locked that it has achieved since its launch. Source: DeFiLlama The robust TVL performance was also accompanied by healthy stablecoin market cap growth. The latter also soared to a new ATH of $3.72 billion. The strong TVL growth indicates that a lot of liquidity has been flowing into the layer 2’s ecosystem. This is in line with recent Dune data, which revealed that liquidity flowing into Base has been outperforming that of the Ethereum mainnet. According to the data, Base, roughly $32.1 million worth of liquidity was migrated into its ecosystem between June and October. Meanwhile, only $6.35 million migrated into Ethereum during the same period. Source: Dune Reports indicate that most of the liquidity flowing into Base during the aforementioned period migrated from CompundV2. Meanwhile, most of the liquidity flowing into Ethereum has been coming from Aave. Robust transaction activity is fuel These observations indicate that the layer 2 network has been enjoying robust usage. According to DeFiLlama, daily transactions on the Base network have been steadily growing this year. They also reached a new ATH this week. Transactions peaked at 5.73 million TXs on the 8th of October, which is the…

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Filed under: News - @ October 10, 2024 9:22 pm