# Based

> How Coinbase’s Base Surged Past Arbitrum as the Leading Ethereum Layer 2

**Published by:** [aundingoya.eth](https://paragraph.com/@aundingoya.eth/)
**Published on:** 2024-10-16
**URL:** https://paragraph.com/@aundingoya.eth/based

## Content

Coinbase’s Base has officially claimed the title of the largest Layer 2, boasting over $2.4 billion in DeFi deposits. These Layer 2s, built atop Ethereum, aim to provide faster and cheaper transactions while maintaining Ethereum's security. Base's rapid growth can be attributed to several key factors: High-Yield DeFi Protocols: Popular platforms like Aerodrome are attracting users with attractive yields.Leveraging Coinbase's User Base: The massive reach of Coinbase's 8 million monthly active users has propelled adoption.Innovative Products: The launch of Coinbase’s Wrapped BTC has further boosted interest. In contrast, Arbitrum, the former frontrunner, has struggled to translate its community spending into growth.Base’s connection to Coinbase—a $44 billion powerhouse—has proven instrumental in its ascent. While Base leads the way, it’s not alone; ConsenSys’ Linea, launched a month earlier, has garnered only $454 million in DeFi deposits, suggesting that the support of a major player like Coinbase makes a significant difference.

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