Coinbase-incubated layer-2 blockchain, Base, witnessed a dramatic rise, even briefly outshining Ethereum mainnet. Based on Optimistic Rollup and developed on the Ethereum network, Base utilizes OP Stack tech that has added to its appeal owing to the growing demand and popularity of alternatives in the ecosystem.
However, its TVL has taken a hit in the past week.
According to data from L2Beat, the total value locked in Base Network fell by more than 18.28% to $437 million in the past seven days.
The significant decrease in Base’s Total Value Locked (TVL) can mainly be attributed to the extensive burning of Base USDC on September 29.
Data from Dune Analytics indicate that the figure plummeted from a high of 160 million down to just 29.84 million in a single day.
This comes after fintech firm and stablecoin issuer Circle announced the launch of USDC earlier last month.
As a result, Matter Labs’ zero-knowledge (zk) rollup tech-powered scaling solution – zkSync Era – with a TVL of $
We współpracy z: https://cryptopotato.com/circles-usdc-burn-impacts-base-networks-total-value-locked/
