The Base network, an Ethereum Layer 2 network, has experienced significant growth recently. Its total value locked (TVL) has surpassed $10 billion for the first time, with a 5% increase in the last week alone. This milestone makes Base the second Ethereum Layer 2 network to reach this TVL level, following Arbitrum. Base also achieved a record transaction speed of 106.26 transactions per second (TPS). The network has seen a growth in on-chain transactions, with over 9 million transactions recorded. Additionally, weekly active addresses are nearing 6.6 million, indicating increased user engagement. However, the stablecoin volume within the Base ecosystem has seen a decline since October. Base currently ranks as the third-largest blockchain for stablecoin volume, trailing behind Solana and Ethereum. This trend seems to have emerged post-election, with other Layer 2 networks like Arbitrum showing growth in stablecoins.



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