CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Crypto Potato 2025-02-21 22:26:43

Base Faces Market Turmoil: Is Coinbase’s Layer-2 Network at a Crossroads?

Base, the layer-2 network of the largest American crypto exchange, Coinbase, is facing tough times following the chain’s strong entrance into the market over a year ago. Data from the market analytics platform IntoTheBlock shows that the Base ecosystem is under pressure, a challenge driven by the market’s recent dip. Base Ecosystem Under Pressure After reaching a peak of $4 billion in total value locked (TVL) in mid-December 2024, Base is now struggling with a TVL of $3.2 billion, according to data from decentralized TVL aggregator DeFiLlama. Base’s transaction volume has also fallen from $2.2 billion in mid-December to $852 million currently. The network’s revenue has plummeted from $629,000 to less than $192,000 at the time of writing. Additionally, the chain’s active addresses and transactions have tumbled significantly. Amid the plunge in active addresses and transaction count, IntoTheBlock mentioned that only a handful of tokens now have the majority of their holders in profit, weakening retail interest. The network shift can also be seen in transaction volumes – IntoTheBlock’s basket of eight Base assets, including Aerodome Finance (AERO), Morpho (MORPHO), and Brett (BRETT), have recorded a 78% decline in on-chain volume since December. Base’s Past Performance Before the negative market dynamics, Base was the go-to network for new retail traders. Its daily transactions surged 1,600% in 2024, growing from 372,000 in January to 6.63 million in October. Its TVL also rose by 470% over the same timeframe, with the chain’s share of the global on-chain TVL expanding from 1.07% to 3.59%. In addition, Base’s daily transactions skyrocketed by 1,900% from 2.1 million to 42.34 million, earning the network a 9% market share in the global daily transaction volume. At some point in November, the chain’s TVL rallied above $10 billion for the first time, making Base the second Ethereum layer-2 network with more than $10 billion TVL, following Arbitrum. Having recorded such significant growth last year, Base’s current condition raises the question of the network being at a crossroads – if this is a temporary setback or a turning point for the leading layer-2 chain. However, the year is just starting, and analysts expect an altseason in the coming months. This, plus Base’s ambitious roadmap for 2025, brings hope about the chain’s mid-term trajectory. The post Base Faces Market Turmoil: Is Coinbase’s Layer-2 Network at a Crossroads? appeared first on CryptoPotato .

Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine