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.
The Base mainnet also saw a recovery in its TVL after nearly two weeks of slump.
Base Layer 2 Growth
Over the past week, Base has seen a remarkable increase in user engagement, culminating in 1,220,883 daily active addresses on July 22nd.
According to IntoTheBlock’s latest findings, 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.
The Base mainnet – which became publicly available last August – has since risen to become one of the key Layer 2 networks. Interestingly, Arbitrum continues to dominate the chart in terms of total value locked (TVL) with $18.07 billion, as per L2BEAT’s data.
However, Base is not far behind, having captured the second position. While the TVL
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