Recently launched blockchains like Base and Blast are seeing strong transactions and inflows as the crypto bull run gains steam.
Blast TVL and fees are rising
Data shows that Blast, which launched its mainnet recently, has attracted 72 DeFi developers and over $1.25 billion in assets. Most importantly, it has also gained over $2.77 billion in bridged TVL and more than $235 million in stablecoins.
Orbit Protocol is the biggest player in Blast’s ecosystem with over $304 million. The other big players in the ecosystem are Ring Protocol, Pac Finance, Thruster, and Juice Finance. All these networks have over $100 million in assets.
However, while Blast has a big TVL, there are signs that it is losing momentum as its inflows slow. Inflows have retreated in each day since March 17th. Blast has over 562k users, according to data in its website.
Base Blockchain has strong traction
Base, the blockchain started by Coinbase, has also seen strong inflows in the past few months. It now has over $1.04 billion in assets, making it the 11th-biggest blockchain in the DeFi industry. It generated over $2.4 million in fees in the past 24 hours after handling over $439 million in transactions.
The biggest player in the Base Blockchain is Aerodrome, a decentralized exchange with over $478 million in assets. It is followed by Uniswap, which has added $125 million in assets. The other top players in the platform are Extra Finance, Compound, and Beefy.
Base is benefiting from the ongoing crypto craze as some of its tokens are some of the best-performers. For example, Aerodrome’s AERO token has jumped sharply, giving it a market cap of over $280 million.
The network is also becoming a leading player in the gaming industry. For example, Heroes of Mavia recently selected Base as its blockchain provider. This is notable since this game has become the most popular blockchain game in the industry with millions of downloads.
Base is also used by Animoca Brands, the unicorn that runs games like Benji Bananas, Torque Burnout, and Crazy Defense Heroes.
Coinbase hopes that Base will become the most popular layer 2 networks in the industry. It also hopes to use it to diversify its earnings.
Notably, Base and Blast have passed other well-known and highly-valued blockchain networks like Cardano, Near Protocol, Cronos, Stacks, and Algorand. This is notable since Cardano, with its $564 million in TVL has a market cap of over $23 billion.
Cardano has $23 million in stablecoins compared to Base’s $939 million and Blast’s $293 million. Near Protocol has $201 million in stablecoins and generated just $51k in fees in the past 24 hours. As mentioned, Blast and Base generated over $1.5 million in fees.
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