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Base achieves 51% TPS growth against Ethereum L2s

Author: Content Editor
The Ethereum Layer 2 network, Base, developed by Coinbase, has experienced significant growth in Q3 and throughout 2024. Base's transactions per second (TPS) have increased by 51% in the last day, reaching nearly 7 million daily transactions. In terms of revenue, Base generated $7.2 million in Q3, outperforming networks such as BNB Chain and Arbitrum. Base accounted for 42.5% of all Layer 2 transactions in Q3, according to CoinGecko. The network houses 368 protocols with 2.42 million active addresses in the last 24 hours and has seen a 41% growth in active addresses over the past month. Base's development activity has been high, and it is expected to benefit from the upcoming Pectra upgrade, which aims to enhance data availability and transaction capacity. Despite being in the early stages of development, Base's stablecoin market has reached close to $3.708 billion, surpassing Solana. The network has seen migration from other chains, as well as new Dapps, protocols, and memecoins joining.

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