Analysis News TheBitTimes.com

Base Network’s TLV takes a hit, falling to $445 million, as zkSync Era gains momentum, fueled by dynamics in USDC and market competition. Base Network’s Total Value Locked (TVL) has fallen dramatically by 16.92%, bottoming out at $445 million over the previous week. Base’s position has been ceded by layer-2 protocol zkSync Era, which now boasts a TVL of $477 million. L2Beat statistics revealed that a major contributing factor to the erosion in Base’s TVL was a sharp decrease in its USDC holdings, which plunged from 160 million to just 29.84 million on Sept. 29, as indicated by Dune Analytics data. However, Base Network has shown signs of resilience despite the drawbacks. In under a month, it not only recovered but outperformed Solana (SOL), another noteworthy player in the crypto space, by amassing a TVL close to $400 million. Concurrently, data from DeFi Llama suggests Solana’s TVL is also in decline, further emphasizing Base Network’s comeback. Yo...

Coinbase’s Ethereum layer-2 network garnered significant attention upon its launch. At the moment, the interest remains progressive, as indicated by the increasing number of transactions processed. Data from IntoTheBlock revealed that Base recently recorded a substantial 1.4 million transactions, closely approaching its previous record of 1.42 million, which was achieved back in August. Source Furthermore, the total count of addresses holding a balance on the Base network has witnessed a remarkable surge, reaching 1.25 million. This represented a notable twofold increase when compared to the preceding month. Along with this, the total value locked into this network hit an all-time high of $387 million. This increase is rather unexpected, especially in light of recent challenges faced by the network. In early September, the Base chain experienced difficulties, notably encountering a significant outage. During this incident on Sept. 5, the network ceased generating new blocks ...