Coinbase Boosts USDC Reserves on Base as TVL Soars Past $1B In a bid to enhance security and streamline operations, Coinbase is upping its game by
increasing storage for USDC balances on Base, an Ethereum Layer 2 solution developed in-house.
With
lower fees and
faster settlements in the cards, Max Branzburg, Coinbase's VP of Consumer Products, is confident this move won't disrupt the user experience.
The community is buzzing with approval, as Jesse Pollak from Base hails this decision
as "based" and pledges unwavering support for Coinbase's onchain ventures. Speaking of Base, it's been a wild ride for the Ethereum Layer 2 darling. Total value locked (TVL) has skyrocketed past
$1 billion, doubling since the start of the month. Aerodrome's growth has been a major driving force behind this surge.
Transaction counts on Base are soaring too, outpacing other rollups. While Arbitrum is also seeing a spike,
OP Mainnet's daily transactions are growing at a more measured pace. Meanwhile, Circle and Binance are parting ways with USDC on Tron.
Circle cites a commitment to transparency and trust as they halt token creation on Tron, while Binance will no longer handle deposits and withdrawals
on that network. Despite these shifts, USDC remains strong with a market cap of around
$32.1 billion, making it the second-largest stablecoin after Tether.
Ethereum continues to be its blockchain of choice.
