#On-Chain Activity

Base is a new Ethereum L2 network, incubated by Coinbase and built on the open-source OP Stack. Base is secure, low-cost, developer-friendly network that is built to bring the next billion users to web3.

Since the launch of Base Mainet, The onchain activity has not slowed down. The Not only has the transaction count remained consistent, it has doubled and even trippled. For the past mont, The total value locked in base has increased more than 60 percent and keeps inreasing. The number of active users also keeps increasing daily. This indicates sustained interest in the network. Even after posting on their main twitter account that there is no token launch, this has not slowed the interest in activities on the Base blockchain.

While the adoption level hasn't reached some other Layer 2 blockchainsIt is safe to say that it might reach considering the fact that it has just been just few months since mainet. Total Value Locked on Base at the moment stands at $348.64m according to data from DefiLlama. Below is the Statistics in TVL between Base and other Blockchains for the past month Show Less

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