The total value locked (TVL) of Base surged to almost $397.32 million since its launch back in August this year. The figure managed to place Base ahead of the Solana (SOL) network, which currently has a TVL of almost $312.45.
Similarly, recent data shared by DeFi Llama highlights that the current TVL of Base stands at the $339.52 million mark, but is still ahead of Solana nonetheless. The past month has been increasingly significant for the platform as its total locked value managed to go up by a staggering 111%.
Base Starts to Move Up Rank
When compared with Solana, the total CVL of the network experienced a decline of almost 12.22% since last month. Furthermore, two Base-native projects account for the largest share of TVL on the network. The decentralized Aerodrome Finance takes the top spot with a TVL of almost 94.75 million, whereas the decentralized social media app Friend.Tech ranks second with a total TVL of $39.35 million.
Aerodrome was launched back in August and allowed users to deposit liquidity in an effort to earn AERO tokens. However, user interest stayed on the lower side during the initial few days, but the platform’s TVL surged to almost $150 million on August 31. Moreover, its TVL was seen to touch the $200 million mark but the excitement surrounding the platform has cooled down since then.
Similarly, Friend.Tech was also launched during the same month, and it allows users to tokenize their social networks by the buying and selling of keys. Based on the Data shared by Defi Llama, it has come to light that the platform’s TVL surged by 516% since last month.
Base Continues to Raise Attention
When other projects harnessing the capabilities of the network are assessed, it becomes understandable that the TVL of the network is accounted for multinetwork decentralized finance platforms like Compound, Curve, Uniswap, and many more.
It was also reported that Base managed to hit a new high in terms of daily transactions, which crossed the 1.88 million mark earlier this month. This total figure has placed the network way ahead of its competitors which include Optimism and Arbitrum which previously had combined daily transactions of 880,000 combined. However, the all-time high remains intact for Base, but the daily transactions have dropped to almost 908,000.