- Base’s TVL nears $4.5 billion, with fees down 97.7% year over year.
- Active users grow 1,280.6%, transactions exceed 9.8 billion annually.
- Launch of Base App fuels SocialFi growth; ZORA token price surges 800%.
Ethereum-based layer-2 network Base, which is affiliated with Coinbase, celebrated its second anniversary with notable achievements in core metrics.
According to onbase, the total value of funds locked (TVL) on the network has reached nearly $4.5 billion over the past year, while transaction fees decreased by 97.7% compared to the previous year.
Meanwhile, the number of active users grew by 1,280.6%, reaching 1,256 million, and the total number of transactions rose by 2,049.6%, hitting 9,869 million.
Key Events and Controversies
Throughout the year, Base repeatedly attracted attention for major events. In April 2025, the network launched the memecoin “Base is for everyone,” describing it as a “public experiment.” However, it was later discovered that three wallets collectively earned $666,000 on the token, prompting suspicions of insider trading within the crypto community.
Later, Base founder Jesse Pollack entered a public debate with blockchain detective ZachXBT. The confrontation centered on the "viral" tokens of the Zora platform, which Pollack supported.
ZachXBT criticized the assets, stating that none had achieved “capitalization over $5 million,” and questioned their value for creators. Pollack responded by arguing that most digital content is worth little; only a small percentage accrues substantial value, likening the model to TikTok and Instagram, where only rare posts reach high valuations. The debate highlighted disagreements about speculation and cultural worth in crypto circles.
New Developments and Platform Growth
Another notable milestone occurred on July 17, 2025, when Coinbase released the new Base App, replacing Coinbase Wallet. The revamped app focuses on not just asset storage but also broad participation in the Web3 economy, integrating social, trading, payments, and mini-app features.
This launch catalyzed growth in the SocialFi niche; the ZORA token price nearly increased by 800%, and user activity surged dramatically.
