Anatoly Yakovenko, co-founder of Solana, said that the Layer 2 solution called Base is an Ethereum 
$2,705 He stated that it is of critical importance for the ecosystem. Yakovenko’s opinion is based on the rapid increase in Base’s user activities and transaction volumes.
Base Growth
The Base network experienced a significant increase in key activity metrics such as Active Addresses, Number of Transactions, and Transaction Volume, with these metrics reaching all-time highs. Additionally, Base’s Stablecoin Market Cap and Total Key Value (TVL) also rose accordingly.
Base’s integration with Coinbase’s large user base is contributing to increased demand and an uptick in these metrics. Additionally, the popularity of meme coins in the Base ecosystem, especially MOG and BRETT, had positive effects on the growth of the platform.
Aerodrome Finance’s Contribution to TVL Increase
According to DefiLlama reports, Aerodrome Finance played a significant role in the Total Key Value (TVL) increase in Base Layer 2, with memecoin trading volume being the main reason for this increase. The platform contributed $1.36 billion in TVL to Base Layer 2.
Following the outstanding performance of Base Layer 2, Anatoly Yakovenko made the following statement:
“So basically without Base, the Ethereum ecosystem would be underwater right now.”
However, on-chain analyst Lily Liu raised a potential issue with the way active addresses are grouped. Liu stated that Solana’s monthly active address count is four times higher than Base, and stated that the current presentation does not reflect the real activity levels of the ecosystem.
Liu suggested that EVM and non-EVM bars be colored differently and displayed in a single bar chart to present the data more accurately. He also emphasized that NEAR Protocol surpassed Base with 31 million monthly active addresses.
Impact of Ethereum on Market Position
Ethereum has faced some challenges since the Dencun update; Inflationary supply and decreasing incomes became a major problem. In contrast, the rise of Base Layer 2 has been remarkable and stands out as having a significant share among Ethereum’s Layer 2 solutions. Layer 2 solutions continue to evolve as independent ecosystems with their own communities and economic activities.
As a result, it seems that the dynamics in the blockchain ecosystem are changing and Layer 2 solutions are becoming increasingly important. Users and investors are increasing their interest in the ecosystem thanks to the advantages offered by Layer 2 solutions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
