Base Surpasses OP to Become the Third Largest Ethereum Layer 2

Base has quickly risen since its public release in early August 2023. According to DeFiLlama, Base’s total locked value has now reached $1.7 billion, an increase of over 10% since early May. This growth has positioned Base as the third largest Layer 2 blockchain in terms of TVL, behind only Arbitrum ($3.81 billion) and Blast ($2.26 billion), surpassing OP.