Coinbase-backed Base has seen a substantial drop in decentralized finance activities on the network, with the total value of assets locked (TVL) dropping by around 30% in the last two months.
Data from DeFillama shows that the Ethereum (ETH) layer2 network’s TVL has dropped by more than 30% to $284.59 million from its September peak of $411.5 million.
The total value of assets locked on the Base network (Source: DeFillama)
This means that investors have removed more than $100 million worth of their assets from protocols operating on the network despite the improved market conditions recorded during the period.
The recent downturn marks a notable reversal of fortune for this blockchain network, which gained considerable prominence within the industry upon its public debut in August.
During that period, CryptoSlate reported that Base ranked among the top 10 networks regarding trading volume. The rise of memecoins, such as Bald, and the growth of the decentralized social protocol Friend
We współpracy z: https://cryptoslate.com/coinbase-backed-base-tvl-decline-30-from-september-peak/
