Friend.Tech Leads Layer 2 Blockchains in Transactions per Second

In the span of just a week, the average daily transactions per second (TPS) on Base have surged by an impressive 156%.

Base, the layer 2 blockchain that enjoys support from Coinbase (COIN), has achieved a remarkable milestone by recording a peak average of 15.88 transactions per second (TPS) within a 24-hour period. This surpasses the TPS figures of Ethereum, as well as competing layer 2 blockchains like Arbitrum and Optimism, as reported by l2beat.

This remarkable achievement of 15.88 TPS reflects a significant surge of 156% in a mere week. The surge can be attributed to the growing interest from investors who are drawn to Base due to the introduction of friend.tech, a social marketplace enabling users to trade shares in public figures. Impressively, within just a few days of its launch, friend.tech has already amassed over 100,000 users.

Despite the broader market downturn, the total value locked (TVL) on Base has exhibited an upward trend this week. The TVL has climbed to $188 million, with decentralized exchange BaseSwap and cross-chain bridge Stargate serving as the primary drivers of this growth, as reported by DefiLlama.

Base is gaining attention from various quarters, with several protocols directing their focus toward it. Notably, derivatives liquidity protocol Synthetix concluded a governance vote that paves the way for its deployment on the Base layer 2. Additionally, on-chain analytics firm Arkham Intelligence has recently announced its support for this newly-launched blockchain.

Since its mainnet launch just a month ago, Base has facilitated over 11.5 million transactions, showcasing its growing adoption and increasing significance within the blockchain landscape.