Ethereum's (CRYPTO:ETH) layer-2 network, Base, has swiftly exceeded a Total Value Locked (TVL) of $8.05 billion, following its recent overtaking of Optimism (CRYPTO:OP) Mainnet.

As per L2Beat data, Base's TVL includes $2.14 billion of canonically bridged assets from Ethereum and $5.92 billion in natively minted assets.

Supported by Coinbase, Base has risen to become the second-largest Ethereum scaler, with transaction speeds surpassing other layer-2 solutions, processing 64.86 million transactions in the last 30 days.

Despite a slight dip in profits from March to May, Base still leads in on-chain profits among Ethereum layer 2 networks, showcasing its rapid growth and prominence in the Ethereum ecosystem.