The Base network has hit a new major milestone, recording $5.372 billion in Total Value Locked (TVL) according to the latest data from DeFiLlama. This reflects a 3.90% increase in the past 24 hours, signaling renewed enthusiasm across the network’s DeFi ecosystem. As more users and liquidity providers turn to Base, the network continues to position itself as one of the fastest-growing Layer-2 ecosystems in the market.

Rapid Growth Driven by Strong DeFi Activity

Base’s rising TVL can be closely tied to increasing on-chain participation and trading activity. The network reported $1.358 billion in DEX trading volume within 24 hours, supporting the view that liquidity providers and traders are actively engaging with decentralized exchanges built on the chain.

Additionally, the network processed $266.89 million in perpetual futures trading volume, suggesting a growing appetite for on-chain derivatives. This marks Base not just as a home for traditional DeFi, but also as a rising player in leveraged trading environments.

Healthy Network Economics and Revenue

Another strong indicator of Base’s growth is its chain revenue and fees. In the past 24 hours, Base generated:

• $466,617 in chain fees
  
• $461,925 in chain revenue
  
• $1.94 million in app revenue
  
• $5.69 million in app fees
  

The close alignment between fees and revenue signals efficient network economics. Furthermore, these figures show that applications built on Base are not only being used, but they are generating sustainable financial value.

Active Users Continue to Rise

Base recorded 730,949 active addresses in the last 24 hours, reflecting strong user engagement. This activity highlights the network’s appeal among both retail users and more advanced market participants. Moreover, the network’s stablecoin market cap stands at $4.59 billion, reinforcing its role as a liquidity hub with a stable transactional base.

Additionally, Base’s bridged TVL of $18.973 billion underscores its strength as an interoperability layer, enabling assets from other chains to flow into the ecosystem efficiently.

Why Base Continues to Gain Adoption

Several factors contribute to Base’s breakout growth:

• Low transaction fees make the network cost-efficient for everyday users.
  
• Strong developer support continues to attract new protocol launches.
  
• Deep liquidity incentives fuel farming, trading, and yield strategies.
  
• Integration with major wallets and dApps makes onboarding frictionless.
  

Furthermore, Base benefits from strategic infrastructure alignment with Coinbase, which helps build trust and credibility among institutions and large liquidity providers.

Conclusion

Base’s latest TVL milestone reflects more than just inflows, it signals the emergence of a robust and rapidly evolving DeFi environment. With strong revenue, rising user activity, and growing liquidity, the network is on track to play an even larger role in shaping the Layer-2 landscape.

If current momentum continues, Base could soon challenge leading ecosystems in both liquidity depth and developer activity. As always, sustained growth will depend on continued innovation, user incentives, and market conditions.