Base's TVL witnessed a drawdown of over 18% in the past week.
Coinbase-incubated layer-2 blockchain, Base, witnessed a dramatic rise, even briefly outshining Ethereum mainnet. Based on Optimistic Rollup and developed on the Ethereum network, Base utilizes OP Stack tech that has added to its appeal owing to the growing demand and popularity of alternatives in the ecosystem.According to data from L2Beat, the total value locked in Base Network fell by more than 18.28% to $437 million in the past seven days.
Among the top five rollups, Base is the only project in red, while Arbitrum One and OP Mainnet were up by 10.12% and 8.29%, with TVLs of $6.17 billion and $2.80 billion, respectively.Despite the drawdown in TVL, Base remains a strong contender in the space.
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