The Base network could flip Arbitrum in DeFi TVL amid a surge in daily active addresses, transactions and stablecoin supply.
Base network’s TVL stood at an all-time high of $1.96 billion, at press time perIn comparison, Arbitrum’s TVL has not registered any significant gains within the same period.As seen on DeFiLlama, Arbitrum remains the largest Ethereum layer 2 in the DeFi space with a TVL of $2.54 billion. However, Base network’s rapid growth suggests that it could soon flip Arbitrum.
Increased activity on Base is further seen in a rise in stablecoin supply. According to Token Terminal, USD Coin supply on Base has increased by $300 million since the start of the month.On a year-to-date basis, USDC supply on Base has increased by nearly 70 times from below $50 million on 1st January to $3.35 billion. These metrics point towards increased activity and liquidity on the Base network.
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