Memecoin has doubled the TVL on the Base chain to over 2 billion US dollars in just 25 days, competing with Solana for market share

Historical data shows that the total value locked (TVL) of Ethereum's second-layer network, Base, supported by Coinbase, reached $1 billion 226 days after its launch but doubled to $2 billion in just 25 days. According to the latest data from L2Beat, the current Base TVL has reached $2.15 billion, setting a new record.

Analysts believe that Memecoin has driven the growth of Base chain's TVL and the next wave of adoption. After Ethereum's Dencun upgrade, Base recently set a record for 2 million transactions in a single day on March 16th and is likely to take market share from Solana. Data shows that currently Degen (DEGEN) and Base God (TYBG) are the largest Base Memecoins with market values of $143.4 million and $65.9 million respectively.