2024-08-04
Base, has captured in the decentralized
exchange (DEX) market. According to the data from Token Terminal, in July 2024, Base hosted approximately 80% of Uniswap’s monthly active traders.
This is a substantial shift from the
previous dominance of Ethereum mainnet and Arbitrum One in DEX trading
activity.
Base has differentiated itself with
strong performance, processing nearly 42 transactions per second (TPS), which
surpasses its competitors.
It also benefits from its affiliation
with Coinbase, offering seamless integrations and easy fiat onramps, which has
likely contributed to its rapid adoption among DEX traders.
Moreover, Base’s total value locked
(TVL) is just shy of $7.2 billion, positioning it as the second-largest L2
blockchain, while Arbitrum leads with almost $17.2 billion in TVL.
However, Base faces competition from
next-generation layer-2 solutions, such as zero-knowledge (zk) rollups, which
are designed for faster processing times and enhanced security.
Base is becoming a significant player
in the crypto space, and its growth trajectory suggests it could continue to
gain market share in the future.
