Coinbase’s blockchain called Base, which is a so-called Layer-2 solution for Ethereum, recorded an increase of 13.2 percent over the weekend for the total amount of assets it manages. For the first time in history, there is more than $4 billion worth of capital in Coinbase’s blockchain.

In addition, it managed to process more transactions over the past 30 days than Ethereum and Arbitrum.

Coinbase blockchain is popular

Coinbase is of course a trusted name within the industry and that seems to contribute to Base’s popularity. Of course it helps if there is a listed company behind a blockchain, because they will be punished more severely if they make mistakes.

The latest data from L2BEAT tells us that the total number of assets on Base currently stands at $4.15 billion. This includes $1.45 billion worth of Ethereum assets that are represented on Base with a “digital bridge”.

Base also houses $2.7 billion worth of assets that have been brought to life on the blockchain itself.

The graph above shows the massive explosion in the number of assets on Coinbase’s blockchain. Particularly in recent times, the number of assets on the blockchain has increased explosively, at least if we measure in US dollars.

Base is not yet the largest

Of all Layer-2 solutions, Base is not yet the largest. With its $4.15 billion in assets, it is still behind Optimism ($7.65 billion) and Arbitrum ($14.6 billion).

It therefore still has steps to take. It is notable that Base was the only Layer-2 blockchain to record an increase in its asset totals last week.

For example, optimism fell by 9.1 percent, while Arbitrum is down 5.5 percent.

In terms of transaction numbers, Base is doing well. For example, it managed to beat Ethereum and Arbitrum last month. Base is also the leader in terms of transactions per second with 35.19, while Arbitrum and Ethereum have to make do with 16.61 and 13.91.


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