Coinbase’s Ethereum layer-2 scaling solution Base has, over the last 30-day period,d seen total net inflows of around $756 million, making it the leading chain by the metric with more than twice the netflows of the runner-up Solana (SOL).
According to data from crypto terminal Artemis, over the past mont,h Coinbase’s layer-2 saw $1.2 billion inflows and $448 million outflows, leading to a net flow of $756.7 million, while runner-up Solana saw $703.5 million inflows and $372.6 million outflows, meaning it saw a total net flow of $330.9 million.
In third place was Sui, with $255 million inflows and $177.1 million outflows, meaning it had a net flow of $77.8 million while still seeing significant growth. Base’s explosive netflows come at a time when the number of daily active addresses on it has surged.
That growth in active addresses also came after the exchange’s layer-2 network saw significant stablecoin inflows of around $75 million, a figure that was notably below the $420 million that entered the Solana network over the same period.
Base’s decentralized finance (DeFi) ecosystem has notably seen surging, having risen from around $440 million at the beginning of last year to now stand at $3.46 billion, with major protocols within it including decentralized exchanges Aerodrome and Uniswap, as well as lending protocols Morpho, Aave, and Moonwell.
While the layer-2 scaling solution supported by the Nasdaq-listed cryptocurrency exchange has been seeing significant net flows, the layer-1 network it’s built on top of saw significant outflows over the same period.
Artemis’ data shows that $3.9 billion flowed into Ethereum, while $4.1 billion was withdrawn from the network, leading a net outflow of $185.1 million. Suffering more than Ethereum was rival layer-2 network Arbitrum, which saw $1.4 billion inflows and $2.3 billion outflows, leading to a net outflow of $896.4 million.
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