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Base’s Daily Throughput Exceeds 100 Transactions Per Second

Base is now the top Layer 2 network by DeFi TVL, decentralized exchange volume, and throughput.
By: Samuel Haig • November 25, 2024
Base’s Daily Throughput Exceeds 100 Transactions Per Second

Base’s rising dominance over Ethereum’s Layer 2 ecosystem is showing no signs of slowing down, with the network becoming the first L2 to host organic triple-digit throughput.

On Nov. 24, Base’s daily average transactions per second (TPS) broke into triple digits for the first time, with the network hosting 106.24 TPS, according to L2beat.

Base accounted for 27.8% of the combined throughput of the Ethereum ecosystem, followed by the Xai Layer 3 with 85.6 TPS, and the Taiko rollup with 51.1 TPS.

the-defiant
Daily TPS of Base (red) and Ethereum (blue). Source: L2beat.

Starknet was the first Layer 2 to record more than 100 transactions per second on Oct. 30 during an organized stress test that drove its throughput to 128.8 TPS.

The milestone comes after Base’s total value locked (TVL) exceeded $10 billion for the first time on Nov. 15, with $10.6 billion worth of assets residing on the network today.

While Base ranks second by network TVL behind Arbitrum's roughly $18 billion, Base overtook Arbitrum by the TVL of its DeFi ecosystem on Oct. 11 — with the two networks now hosting $3.45 billion and $3.12 billion respectively.

Base also enjoys a hefty dominance over the Layer 2 user base, hosting 6.59 million wallets or nearly 65% of addresses active on L2s over the past week, according to GrowThePie. For comparison, Arbitrum held an 11% market share with 1.13 million users, followed by Linea with 4.83%, OP Mainnet with 2.87%, and Taiko with 2.85%.

Decentralized exchanges are a significant factor driving Base’s growth, with the network ranking as the third-largest chain by weekly DEX volume with $9.92 billion. Solana topped the list with $40.5 billion, followed by Ethereum with $20.4 billion, according to DeFi Llama.

On Nov. 22, Uniswap Labs flagged that the Uniswap protocol has processed more than $80 billion in volume on Base to date, up from $1.38 billion at the end of 2023.

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