Coinbase's L2 Base Hits $2B TVL
Base's total value locked is up 40% this month.
Coinbase’s L2 
Base has surpassed $2B in total value locked (TVL) for the first time as user growth continues to trend upward.
What's the Scoop?
- TVL Growth: Base's total value locked reached $2.13B, up ~40% over the month and 370% year-to-date.
- Key Contributors: DEX Aerodrome, which continues to stand out as an immense revenue generator, leads with over $1B in deposits, followed by
Uniswap with $220M.
Bankless Take:
Base’s rise to $2B in TVL continues to prove impressive, particularly considering its launch just over a year ago. The platform's rapid growth highlights the effectiveness of Coinbase’s marketing engine and growth campaigns like Onchain Summer in attracting significant DeFi and user activity, for which Base ranks number one, according to the Block.
David Christopher
David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
