Crypto Blog
Coinbase-incubated Layer 2 network – Base – is seeing a significant surge in daily activity thereby suggesting growing interest and adoption amidst an improved sentiment in the broader market.Over the past week, Base has seen a remarkable increase in user engagement, culminating in 1,220,883 daily active addresses on July 22nd., this figure is more than double that of its closest competitors, with Arbitrum recording 494,214 daily active addresses and Optimism reaching 445,222 on the same day.
However, Base is not far behind, having captured the second position. While the TVL figure on the network witnessed a major drawdown in the first two weeks of July amidst a broader market pullback, it has since recovered and is currently hovering above $7.3 billion as of July 23rd. Over the past three months alone, TVL on Base has surged by almost 60%.
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