Coinbase's Base layer-two blockchain network registered a $557 million surge in Total Value Locked within 24 hours after Binance.US announced integration support for Ethereum and USDC transactions, pushing the TVL from $2.778 billion to $3.335 billion Friday.
What to Know:
- Base's Total Value Locked grew 20% to reach $3.335 billion following Binance.US integration announcement
- The exchange now supports direct ETH and USDC deposits and withdrawals on Base's layer-2 network
- Development comes amid broader crypto exchange expansion under shifting U.S. regulatory environment
Blockchain Metrics Signal Growing Adoption
Base's TVL rose sharply from Thursday's $2.778 billion to current levels of $3.335 billion, marking a 20% increase in just one day. The surge indicates growing user confidence and adoption, as more capital flows into the protocol through staking, locking and deposits.
Binance.US, the American division of the world's largest crypto exchange by volume, announced Thursday it now supports Base integration. The move enables direct transfers of Ethereum and USDC stablecoin without requiring assets to bridge through Ethereum's mainnet.
"We're excited to announce that Binance.US now supports Base! Starting today, you can deposit and withdraw ETH and USDC via Base," the exchange stated in its announcement. The company indicated additional assets will be added to the Base network integration in the future.
Layer 2 Benefits Drive Exchange Integration
Base offers significant advantages over Ethereum's mainnet, which processes approximately 13.2 transactions per second according to Etherscan data. This limited throughput frequently causes network congestion and elevated gas fees during peak usage periods. As a layer-two scaling solution, Base processes transactions off-chain before bundling and submitting them to Ethereum, achieving higher speeds and lower costs.
The integration enables Binance.US users to move ETH and USDC directly to Base for decentralized finance activities at substantially reduced fees. Users can now interact with Base's ecosystem without the costly and time-consuming process of bridging assets through Ethereum's mainnet.
This development follows Binance.US's recent restoration of USD deposit and withdrawal services via bank transfer after a two-year suspension. The exchange had halted these services in 2023 amid Securities and Exchange Commission litigation and intensifying regulatory scrutiny.
Regulatory Climate Shifts Prompt Bold Moves
The timing coincides with changing political attitudes toward cryptocurrency. Binance.US interim CEO Norman Reed recently stated, "Now that we've survived, our goal is to help crypto thrive and empower all Americans with freedom of choice."
These strategic moves mirror similar actions from competitors. Kraken exchange recently listed Binance's BNB token, signaling a potential shift in U.S. crypto exchange operations toward broader token adoption.
With President Trump's pro-cryptocurrency stance influencing market sentiment, exchanges appear increasingly willing to expand services despite previous regulatory constraints. The integration demonstrates growing confidence among major platforms to enhance accessibility and functionality for American users.
Closing Thoughts
Base's significant TVL increase following Binance.US integration underscores growing demand for layer-two scaling solutions and expanded cryptocurrency access. The move represents a broader trend of U.S. exchanges expanding services amid shifting regulatory perspectives.