Base Data Insights: $51.4 million in revenue this year, TVL exceeds $25 billion
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Base Data Insights: $51.4 million in revenue this year, TVL exceeds $25 billion
Base achieved the largest growth in average daily transaction volume this year, reaching a record high of 6.1 million.
Navigating Web3 tides with focused insightsAuthor: Cheeezzyyyy
Translation: TechFlow
If you think Base's memecoin summer marked the peak of its on-chain activity, you're wrong.
Things are just getting started.
There has been a significant shift in the L2 landscape—Base has become the largest L2, surpassing Arbitrum for the first time.
Here are key insights from @artemis__xyz:
First, the major turning point: @base ($2.5B) has surpassed @arbitrum ($2.4B) in Total Value Locked (TVL) for the first time.
Year-to-date, only three L2s have seen significant TVL growth:
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@0xMantle Network: from $121M to $424M (+350%)
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Base L2: from $445M to $2.5B (+562%)
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@LineaBuild L2: from $53M to $460M (+868%)
@base achieved the highest growth in average daily transaction volume this year, reaching a record high of 6.1 million.
This growth has overtaken @0xPolygon PoS’s lead and is triple that of @arbitrum.
Unsurprisingly, volume growth aligns with the following average historical DEX trading volume.
In detail, DEX trading volume on @base has grown over 15x since the beginning of 2024.
This is by far the largest growth metric, primarily driven by exceptional volume growth on @AerodromeFi.
For other L2s, average volumes appear relatively unchanged.
As expected, @AerodromeFi is experiencing:
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All-time high weekly trading volume (~$3.5B)
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Total Value Locked (TVL) breaking $1B (~$1.4B)
The concentrated liquidity mechanism introduced by Slipstream further enhances capital efficiency and trading experience. More details here.
Even in terms of Daily Active Addresses (DAA), @base performs exceptionally well.
DAA reflects user base breadth, growing 13x year-to-date, confirming all previously mentioned trends.
Notably, since Q3 2024, @0xPolygon L2’s DAA has significantly declined, while Arbitrum remains stable.
Finally, the most striking metric is L2 revenue.
@base has long been known for its sequencer's high revenue, earning $51.4M year-to-date.
In data terms, this equates to:
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Double that of @LineaBuild’s $24.7M
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2.88x that of @arbitrum’s $17.8M
It is expected to reach around $60M by year-end.
This is not only a massive win for @coinbase, but also for @Optimism.
Because @base is an Optimium (L2) built using the OP Stack and has a profit-sharing agreement.
This not only fuels the growth of the Superchain ecosystem but also expands additional revenue streams.
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