According to data from L2Beat, the total value locked (TVL) of Base, a layer-2 scaling solution for Ethereum utilizing optimistic rollups, is up 53%. As of the latest figures, the TVL stands at $952,000 as various assets, mainly Ethereum (ETH), are tied up in the layer-2 protocol.

Base Rapidly Growing

The platform’s rising popularity among users can be attributed partly to the backing of Coinbase, one of the world’s largest cryptocurrency exchanges, which lends credibility. At its current pace of growth, Base has emerged as the fastest-expanding layer-2 protocol within the Ethereum ecosystem.

Only Zora Network, another layer-2 competitor backed by Coinbase, matches Base’s growth with a TVL of $1.8 million as of July 24. Additionally, Starknet, a layer-2 platform utilizing zk Rollups, …