Base Surges to $4.5B TVL Amid 1,280.6% User Growth and Fee Cuts

Base’s Ethereum-based layer-2 network has seen explosive growth over the past year, driven by a dramatic decline in transaction fees and a strategic push to expand its ecosystem. As of the latest data, Base’s total value locked (TVL) has climbed to nearly $4.5 billion, while annualized transaction fees have dropped by 97.7% year-over-year [1]. The platform’s user base has grown by an astonishing 1,280.6%, reaching 1,256 million active users, and the total number of transactions has surged by 2,049.6%, hitting 9.869 billion [1]. These figures highlight the network’s growing appeal as a cost-effective and scalable alternative to Ethereum’s mainnet.

The network’s recent innovations have also contributed significantly to its upward trajectory. On July 17, 2025, Coinbase launched the Base App, a major overhaul of its previous wallet that enables users to engage more deeply with Web3 functionalities such as social, trading, and mini-apps [1]. This shift from a storage-focused tool to a full-fledged participation platform has sparked a surge in user activity and catalyzed growth in the SocialFi sector. The ZORA token, for instance, saw its price rise nearly 800% following the app’s release [1].

Despite the optimism, the network has not been without controversy. In April 2025, Base launched a memecoin project described as a “public experiment,” which drew criticism after three wallets were found to have collectively earned $666,000 from the token, raising questions about potential insider trading [1]. The incident underscored the ongoing challenges in maintaining fairness and transparency in crypto projects.

Additionally, Base founder Jesse Pollack became involved in a public debate with blockchain investigator ZachXBT over the value proposition of Zora platform tokens. While Pollack defended the model as analogous to social media platforms like TikTok and Instagram, where only a small percentage of content achieves significant value, ZachXBT questioned the sustainability and utility of such assets [1]. The debate reflected broader industry tensions between speculative value and functional utility in the crypto space.

Coinbase’s strategic direction for Base aligns with industry trends focused on reducing transaction costs and improving user experience. A new feature enabling the collection of content coins is expected to further empower creators and enhance monetization within the Base ecosystem [1]. Complementing this, the platform introduced a decentralized exchange (DEX) feature for U.S. users, allowing for direct swaps of Base-native tokens while maintaining the security and convenience of a centralized infrastructure [3].

Sources:

[1] Base Layer 2: Huge User Surge, Fee Drop, and Strategic Moves Power Growth (https://coinpaper.com/10440/base-layer-2-huge-user-surge-fee-drop-and-strategic-moves-power-growth)

[3] Coinbase Launches DEX Feature for U.S. Users (https://m.economictimes.com/crypto-news-today-live-08-aug-2025/liveblog/123173392.cms)