Base surpasses OP to become the third largest Ethereum Layer 2 solution

The Ethereum Layer 2 network Optimism Base, developed by Coinbase, has recently seen a significant increase in its total value locked (TVL), surpassing the OP Mainnet to become the largest Layer 2 network based on the OP Stack.

Base Becomes the Third Largest L2

Base has quickly risen since its public launch in early August 2023. According to DeFiLlama, the total value locked (TVL) in Base has now reached $1.7 billion, growing over 10% since early May. This growth has positioned Base as the third largest Layer 2 blockchain by TVL, following Arbitrum with $3.81 billion and Blast with $2.26 billion, surpassing OP.

Sources of Base TVL Surge

Multiple decentralized applications (dapps) have contributed to the growth of Base's TVL. The decentralized exchange Aerodrome is the top contributor with $714 million in deposits, followed by Uniswap with $312 million in deposits.