Base's TVL Surges 20% to $3.335 Billion After Binance.US Integration

Base blockchain has experienced a significant surge in its Total Value Locked (TVL), increasing by 20% to $3.335 billion following the integration with Binance.US for Ethereum (ETH) and USDC transactions. This integration has enabled faster and cheaper transactions compared to Ethereum’s mainnet, which has traditionally been slower and more costly.

The rise in TVL reflects a substantial increase in user activity and trust in the Base blockchain. This surge is attributed to Binance.US’s support for ETH and USDC on its Layer-2 network, which has made it more accessible for users to interact with the Base ecosystem without the need to bridge assets through Ethereum’s mainnet.

Binance.US, the American arm of the world’s largest crypto trading platform, has announced that it now supports Base, allowing for ETH and USDC transfers on the Layer-2 network. This integration enables users to deposit and withdraw ETH and USDC directly to and from Binance.US, utilizing Base’s blockchain for faster and lower-cost transactions. The exchange has indicated that more assets will be added to the Base network, showing a commitment to developing this integration further.

As an L2 scaling solution, Base offers higher throughput and significantly lower fees compared to Ethereum’s mainnet. This makes it a more cost-effective option for users, especially during peak periods when Ethereum’s network congestion can lead to high gas fees. By processing transactions off-chain and bundling them before submitting them to Ethereum, Base achieves higher efficiency and lower costs, making it an attractive option for DeFi activities.

This development comes at a time when Binance.US has restarted USD deposits and withdrawals via bank transfer following a two-year hiatus. The exchange had suspended these services due to regulatory pressure and a high-profile SEC lawsuit. However, with shifting political rhetoric toward crypto, exchanges are taking bold steps to empower users with freedom of choice. This aligns with recent moves by other exchanges, such as Kraken, which listed BNB, marking a strategic shift in the US crypto landscape.

The surge in Base’s TVL highlights a significant shift in the crypto landscape, presenting new opportunities for users. As regulatory narratives evolve, the integration with Binance.US cements Base’s role as a critical player in the crypto ecosystem. With continued advancements, Base is likely to remain a focal point for DeFi participants seeking lower fees and enhanced transaction speeds. This development underscores the growing trust and adoption of the Base blockchain, positioning it as a key player in the future of decentralized finance.