The Base network, a Coinbase-backed Ethereum Layer-2 scaling solution, has reached a significant milestone by surpassing $8 billion in total value locked (TVL). This achievement comes shortly after overtaking Optimism, making Base the second-largest Ethereum scaler in terms of TVL value, behind only Arbitrum One.

Base's remarkable growth has been swift, increasing its TVL value eightfold in just 104 days. According to L2Beat data, it processed 30.36 transactions per second last month, outperforming Arbitrum One and conducting a staggering 64.86 million transactions in the last 30 days.

Notably, Base generated the highest on-chain profit among Ethereum Layer-2 networks in the last three months, with a record $16.9 million in March. Although profits decreased in May, Base remains the leading Ethereum Layer-2 in terms of on-chain profit.

While Base's popularity has attracted memecoin projects and scammers, its growth trajectory is impressive. According to analysts at VanEck, Ethereum Layer-2 scaling networks like Base are expected to reach a total market value of $1 trillion by 2025.

In conclusion, Base's achievement of surpassing $8 billion in TVL value is a testament to its rapid growth and adoption. As the Ethereum Layer-2 scaling landscape continues to evolve, Base is poised to play a significant role in shaping the future of the cryptocurrency market."