The Layer 2 network Base, built on Ethereum and associated with Coinbase, has celebrated its second anniversary, showcasing rapid growth across all key metrics.
This is reported by Business • Media
- The total value locked (TVL) in Base has reached nearly $4.5 billion.
- The number of active users has surpassed 1 million.
- Network fees have decreased by 97.7% over the year.
Significant Growth in Metrics and Decrease in Fees
At the end of its second year, the L2 network Base has significantly strengthened its position in the crypto market. According to the onbase service, the total value of locked funds in the network has reached nearly $4.5 billion, marking a significant achievement for the project. The dynamics of fee reduction are particularly impressive: over the year, this metric has decreased by a record 97.7% compared to the same period last year.
User activity has also surged: the number of active wallets has increased by 1280.6%, reaching 1.256 million. Meanwhile, the number of transactions demonstrated a growth of 2049.6%, reaching 9.869 million operations.
Key Events of the Year and Market Impact
Over the past year, the Base network has repeatedly attracted attention due to high-profile events. In April 2025, the launch of the meme coin Base is for everyone took place, which was positioned as a “public experiment.” However, it soon became known that three wallets made $666,000 in profit on this token, raising suspicions of possible insider trading within the cryptocurrency community.
The Base network launched the meme coin Base is for everyone, calling it a “public experiment.”
The platform’s founder, Jesse Pollak, also participated in a public discussion with renowned crypto detective ZachXBT. The dispute arose over the so-called “viral” tokens of the Zora platform, supported by Pollak. ZachXBT criticized them, pointing out that such assets lacked a market capitalization of over $5 million.
Another significant event was the launch on July 17, 2025, of the new Web3 application Base App by Coinbase, which replaced Coinbase Wallet. The new product is aimed not only at storing cryptocurrencies but also at integrating users into the Web3 economy. The launch of Base App became a catalyst for rapid growth in the SocialFi segment: the ZORA token surged nearly 800%, and user activity levels sharply increased.