TVL is not a perfect metric, but it remains one of the clearest ways to see whether an ecosystem has gone beyond launch buzz. When users are deploying capital into lending, DEXs, and liquidity venues, the network starts to look more durable.
Base benefiting from names like Aerodrome and Uniswap also shows how quickly a chain can gather momentum when distribution and developer attention align.
The Real Layer-2 BattleThe broader takeaway is that layer-2 competition is not just about throughput claims anymore. It is about where liquidity settles, where users stay, and which networks can build enough gravity to keep both.
Base hitting this level reinforces that the L2 race is being decided in increasingly measurable terms.
This article is based on data from DeFiLlama.
