Coinbase launches Base, its very own (L2) public chain. Find out how it propelled Coinbase to a $100M valuation.
Coinbase’s Base Surpasses $100 Million Valuation
Coinbase’s much-awaited Layer 2 (L2) public chain, Base, made its grand entrance into the mainnet arena on August 9th at the stroke of 9:00 pm. The past week has witnessed an astonishing 58.58% surge in Base’s Total Locked (TL) value—a feat that has propelled it into the upper echelons of prominence while also catapulting its market capitalization past the significant milestone of $100 million.
The Genesis of Base
Base started with the explicit aim of mitigating the scalability and efficiency quandaries that have long beset many incumbent blockchain networks. Layer 2 solutions have pledged swifter transaction velocities and diminished fees.
Coinbase embarked on the journey of developing Base—a gambit intended to proffer users a high-velocity platform poised to potentially reshape the decentralized finance (DeFi) landscape.
The grand unveiling of Base’s mainnet on August 9th marked a seminal triumph for both Coinbase and the broader blockchain fraternity. This launch was the culmination of months of relentless testing and arduous development, assuring users of a stable and secure environment for their interaction with the platform.
Massive TL Growth
In the aftermath of the mainnet revelation, Base’s Total Locked (TL) value has witnessed an astonishing surge—rocketing by a staggering 58.58% in a mere week. This ascent has not only riveted the crypto community’s attention. It has also etched Base’s name as a robust contender in the Layer 2 expanse.
The rapid TL growth is a resounding affirmation of the market’s embrace of Base’s avant-garde attributes.
One of Base’s most triumphant feats within this interval is breaking the $100 million threshold in market capitalization. This accomplishment underscores the palpable trust investors put in the project’s feasibility and its scope for sustained expansion.
Charting the Path Forward
With a triumphant mainnet inauguration and a meteoric TL surge, Base’s trajectory appears to shimmer with promise.
Coinbase’s Layer 2 public chain, Base, has etched an indelible impression on the crypto scene with its resplendent mainnet entrance.
The triumphant stride past the $100 million market capitalization in just a week is a testament to Base’s potential.
