🔵Base becomes largest Ethereum rollup by total value locked, surpassing Arbitrum.

Base, a Layer 2 Ethereum network developed by Coinbase, has now become the largest rollup in terms of total value locked.

Base has a TVL of $2.49 billion distributed across 366 protocols, slightly surpassing Arbitrum’s TVL of $2.39 billion, data from DeFiLlama shows. A large portion of Base’s TVL comes from the decentralized exchange Aerodrome, which accounts for over $1.3 billion in deposits.

Moreover, Base now ranks among the top five blockchain networks in terms of TVL, positioned just behind Layer 1 chains such as Ethereum, Tron, Solana, and BNB Chain.

Base functions as an optimistic rollup utilizing the OP Stack. This Layer 2 solution processes transactions off the main Ethereum blockchain and periodically commits data back to it.