The Case for Base: Rising Contender
Base, a blockchain platform, has been making significant strides in the crypto space. Its growth and on-chain activity have positioned it as a notable contender among other established blockchains.
Key Highlights:
Base has surpassed Solana in terms of total value locked (TVL), with DeFi protocols on Base amassing deposits totaling over $370 million.
The Web3 social media platform, Friend.tech, has been a primary driver behind Base's growth.
Popular Ethereum DeFi protocols have expanded to Base, further boosting its position in the market.
Base stands as the third-largest network among Ethereum layer-2 protocols in terms of value bridged.
Base vs. Ethereum Layer-2 Protocols
Base also boasts a higher daily average transactions per second (TPS) compared to Ethereum and other layer-2 networks.
Expansion of DeFi Protocols to Base
Another significant factor contributing to Base's growth is the expansion of popular Ethereum DeFi protocols to Base. This includes the lending platform Compound Finance, decentralized exchanges, and the cross-chain bridging protocol Stargate.
Conclusion: Base's trajectory in the crypto world showcases its potential and robust technology. With its current trajectory, Base is poised for further growth. However, like all crypto projects, it will face challenges and opportunities. Every blockchain project faces hurdles, and Base is no exception, but be on the lookout for more activations and opportunities around Base.