• Base’s TVL has declined consistently in the past few weeks.
• The chain has seen a general drop in user activity. 

Following a steady decline in its decentralized finance (DeFi) total value locked (TVL), Layer 2 (L2) blockchain Base has lost its spot among the top 10 chains by TVL, according to data from DefiLlama.

At press time, the L2’s TVL was $412 million, ranking as the 11th chain with the most DeFi TVL. So far this year, Base has witnessed a consistent fall in DeFi activity, resulting in a fall in its TVL.

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Author: Abiodun Oladokun

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