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

Base, a layer-two blockchain developed by Coinbase, has experienced a significant surge in Total Value Locked (TVL) over the past 24 hours following a key integration with Binance.US. This development comes amidst changing regulatory winds in the US, with President Trump’s pro-crypto stance inspiring bold moves among sector players.

The TVL for Base has increased by $557 million, rising from $2.778 billion to $3.335 billion, marking a 20% surge. This increase suggests a higher volume of assets staked, locked, or deposited in the Base blockchain, indicating increased user activity, trust, and adoption. Users are committing more capital to the protocol, which is a positive sign for the ecosystem.

This surge follows an announcement from Binance.US, the American arm of the Binance exchange, which now supports Base. This integration allows for Ethereum (ETH) and Circle’s USDC (USD Coin) stablecoin transfers on the Layer-2 network. Binance.US users can now deposit and withdraw ETH and USDC directly to and from the exchange using Base’s blockchain. This integration is expected to bolster accessibility for Binance.US users, allowing them to interact with Base’s ecosystem without bridging assets through Ethereum’s mainnet, which is known for being slow and costly.

As an L2 scaling solution, Base offers faster and lower-cost transactions compared to Ethereum’s mainnet. Ethereum’s transaction throughput is approximately 13.2 transactions per second (TPS), which can lead to network congestion and high gas fees during peak periods. In contrast, Base processes transactions off-chain, bundling them before submitting them to Ethereum. This method achieves higher throughput and significantly lower fees, making it more cost-effective for users.

The integration allows Binance.US users to move ETH and USDC to Base for DeFi activities at a fraction of the cost. This development comes only months after Binance.US restarted USD deposits and withdrawals via bank transfer following a two-year hiatus. The exchange had suspended its USD deposit and withdrawal services following a high-profile SEC lawsuit and mounting regulatory pressure starting in 2023. However, amid shifted political rhetoric toward crypto, exchanges appear to be taking bold steps.

Binance.US interim CEO Norman Reed recently stated, “Now that we’ve survived, our goal is to help crypto thrive and empower all Americans with freedom of choice.” This aligns with a recent move from the Kraken exchange, which listed BNB in a strategic shift that potentially signals broader token adoption in the country. The integration of Base with Binance.US is a significant step forward for the crypto ecosystem, offering users a more efficient and cost-effective way to engage with DeFi activities.