Base and zkSync Era Shine Bright in Ethereum's Bear Market

Base and zkSync Era Shine Bright in Ethereum's Bear Market

In the midst of a bear market, Ethereum's layer-2 solutions, Base and zkSync Era, are emerging as standout performers, surpassing the blockchain they were designed to enhance.

Impressive Transaction Speeds

On September 17th, for the very first time, both Base and zkSync Era achieved a Transactions Per Second (TPS) rate exceeding Ethereum's 10.18 TPS. According to data from L2Beat, Coinbase-incubated Base achieved a remarkable TPS of 12.93, reflecting a substantial 49.76% increase in just one week. Following closely, Matter Labs' zero-knowledge (zk) rollup technology-powered scaling solution, zkSync Era, achieved a TPS of 12.62.

Base's Surging Activity

Over the past month, Base has experienced a significant surge in activity, largely attributed to the decentralized social media platform This boost in activity led to Base recording nearly $19 million in trading volume, further enhancing network engagement on this layer-2 blockchain. Base has accumulated approximately $380 million in total assets locked and boasted a trading volume exceeding $20 million in the past week.

Moreover, Base's daily transaction count reached an all-time high, surpassing 1.88 million transactions in a single day. During this period, there was a decline in the average transaction size, indicating a growing adoption among retail users and increased smart contract interactions. Notably, Base has risen to the top 10 rankings, surpassing even the well-known layer-1 network, Solana.

zkSync Era's Impactful Journey

zkSync Era made history as the first zkEVM (zk-rollup based Ethereum Virtual Machine) to become publicly available in March after four years of development. This advancement has facilitated faster and more cost-effective transactions. As a result, its Total Value Locked (TVL) has soared to $419 million, showcasing its rapid growth and adoption within the Ethereum ecosystem.

In a challenging bear market, the resilience and performance of Base and zkSync Era demonstrate the continued evolution and innovation within the Ethereum network. These layer-2 solutions are not only enhancing scalability but also attracting significant activity and investment, positioning them as key players in Ethereum's future.

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