Ethereum Layer-2 Scene Booming, Base Cumulative Revenue Exceeds $10 Million
Base, a layer-2 scaling solution for Ethereum, has generated over $10 million in cumulative revenue since its launch in August 2023. Erick Smith, the chief investment officer of 401 Financial, cited data from Token Terminal to highlight Base's steady revenue growth, including a significant revenue expansion in late November. The platform averages over one million monthly active users. The success of Base indicates the increasing popularity of layer-2 solutions, which offer user experience enhancements and lower gas fees on Ethereum's mainnet. Base supports the launch of protocols in highly scalable environments. Popular DeFi and social media protocols have launched on Base, contributing to its revenue growth. Despite a recent slowdown in deposit activity, Base's TVL remains stable over $580 million.
