The L2 network Base, built on Ethereum and associated with Coinbase, has celebrated its second anniversary since launch, showcasing impressive results across key metrics.
This is reported by Finway
- The total value locked (TVL) reached nearly $4.5 billion.
- The number of active users surpassed one million.
- Network fees decreased by 97.7% over the year.
Rapid Growth of Users and Transactions
According to analytics from onbase, over the past year, the TVL in Base has nearly reached $4.5 billion, indicating user trust in the platform. A significant achievement was the reduction of fees by 97.7% compared to last year, making network usage more accessible to a broader range of participants.
The number of active users increased by 1280.6% over the year and currently stands at 1.256 million. Concurrently, the total number of transactions on the network surged by 2049.6% — reaching 9.869 million.
Key Events of the Year and Market Impact
Over the past year, Base has repeatedly attracted attention due to a series of high-profile events. In April 2025, the meme coin Base is for everyone was launched on the network, which was referred to as a “public experiment.” However, it later became known that three crypto wallets earned $666,000 from this token, raising suspicions of possible insider trading among market participants.
“It also surpassed one million active users.”
Another significant event was the public dispute between Base founder Jesse Pollak and crypto detective ZachXBT. The discussion was sparked by Pollak-supported “viral” tokens on the Zora platform, which ZachXBT believed lacked sufficient capitalization — less than $5 million.
On July 17, 2025, the new Base App from Coinbase was released, replacing Coinbase Wallet. The new product is aimed not only at storing crypto assets but also at integrating users into the Web3 economy. The launch of the Base App triggered a real boom in the SocialFi sector: the ZORA token skyrocketed by nearly 800%, and user activity on the network significantly increased.