Base Network Surpasses Tron with $6.6 Billion in DeFi Deposits
Coinbase's Layer-2 solution, Base Network, has surpassed Tron Network with $6.6 billion in deposits, making it the fifth-largest blockchain.
- Base experienced a brief downturn but rebounded strongly.
- Morpho, the largest DeFi protocol on Base, holds over $2.5 billion, contributing about $1 billion to its Total Value Locked (TVL).
- 60% of Base's DeFi deposits come from Morpho and Aave.
- A recent 30-minute outage affected operations like deposits and withdrawals due to a technical fault.
- Base is outperforming other L2 solutions such as Arbitrum and Optimism.
Tron continues to excel in stablecoin trading volume despite falling behind Base in DeFi deposits. It recently announced a partnership with MetaMask to integrate TRX, enhancing user accessibility. The TRX price remains stable around $0.35, with a 24-hour trading volume increase of 17.32%, totaling $1.24 billion.