Recently launched blockchains like Base and Blast are seeing strong trades and inflows as the crypto bull market gains momentum.
Blast TVL and fees are rising
Blast, which recently launched its mainnet, has attracted 72 DeFi developers and over $1.25 billion in assets, according to data. Most importantly, in Bridge TVL he earned more than $2.77 billion, and in stablecoins he earned more than $235 million.
Orbit Protocol is the largest player in the Blast ecosystem, valued at over $304 million. Other big players in the ecosystem are Ring Protocol, Pac Finance, Thruster, and Juice Finance. All these networks have assets in excess of $100 million.
However, while Blast has a large TVL, there are signs that it is losing momentum as inflows slow. Since March 17th, the inflow has been receding day by day. According to website data, Blast has over 562,000 users.
Base blockchain has strong traction
Base, the blockchain launched by Coinbase, has also seen significant inflows over the past few months. It currently has over $1.04 billion in assets, making it the 11th largest blockchain in the DeFi industry. After processing over $439 million in transactions, we incurred over $2.4 million in fees in the last 24 hours.
The largest player on Base Blockchain is Aerodrome, a decentralized exchange with over $478 million in assets. Uniswap then added $125 million to his assets. Other top players on this platform are Extra Finance, Compound, and Beefy.
Base is benefiting from the ongoing cryptocurrency boom as some of its tokens are among the best performing. For example, Aerodrome’s AERO token has skyrocketed and its market cap has surpassed his $280 million mark.
This network is becoming a leading player in the gaming industry.For example, the heroes of Mavia We recently selected Base as our blockchain provider. This is notable because the game has millions of downloads, making it the most popular blockchain game in the industry.
Base is also used by Animoca Brands, the unicorn behind games like Benji Bananas, Torque Burnout, and Crazy Defense Heroes.
Coinbase expects Base to become the industry’s most popular layer 2 network. The company also hopes to use it to diversify its earnings.
Notably, Base and Blast have overtaken other well-known and respected blockchain networks such as Cardano, Near Protocol, Cronos, Stacks, and Algorand. This is noteworthy since Cardano has a market capitalization of over $23 billion with $564 million in TVL.
Cardano has $23 million in stablecoins, compared to Base’s $939 million and Blast’s $293 million. Near Protocol has $201 million in stablecoins, but has accrued only $51,000 in fees in the last 24 hours. As mentioned above, Blast and Base generated over $1.5 million in fees.
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