Base’s growing app ecosystem pushes TVL to $8B

+ new project listings & product updates

May 21, 2025

Every other week, we bring you a quick update from our community, highlight new projects listed on Token Terminal, and share an overview of our newest product features.

Let’s dive in!

CHART OF THE WEEK
Base’s TVL has doubled to $8B in a year

  • Ecosystem total value locked (TVL) is calculated as the USD value of funds deposited into the applications on the chain.

  • The ecosystem TVL on Base has more than doubled over the past 12 months, going from $3.9B to $8.4B. Base holds the largest ecosystem TVL among all L2 blockchains. For reference: Ethereum’s ecosystem TVL is $213.9B.

  • The top six applications currently represent 93% of Base’s ecosystem TVL. Circle’s USDC & EURC collateral deposits account for 45% of the total ecosystem TVL on Base.

  • Of the top applications on Base, a vast majority have backing from either Coinbase (Circle) or Coinbase Ventures (Morpho, Aerodrome, Uniswap, Fluid, Euler, etc.).

Access our updated Base dashboard here.

DASHBOARD OF THE WEEK
Superstate | Yield for crypto-native investors

Explore our new dashboard that features key metrics for Superstate, an asset management firm bringing traditional assets onchain.

Access the dashboard here.

NEW LISTINGS
6 new projects are live Token Terminal

Standardized listings (full listing with up to 15 metrics)

  1. Superstate, a leading RWA issuer & asset manager on Ethereum & Plume.

  2. Sonic, an EVM L1 blockchain with a focus on DeFi.

  3. Moonbeam, an Ethereum-compatible Polkadot parachain.

Basic listings (partial listing with up to 6 metrics)

  1. Noble, a Cosmos SDK chain with a focus on RWA issuance.

  2. Resupply, a stablecoin issuer on Ethereum.

  3. Orbs, an L3 blockchain on Ethereum, Fantom, and 4 other chains.

Our two listing categories:

A standardized listing provides a full set of metrics, including those transformed from raw blockchain data by our research team (e.g., TVL, Fees), along with basic metrics. A basic listing features only programmatically derived metrics such as gas used and active addresses.

Interested to get listed? Read more here.

PRODUCT UPDATES
Three major updates to our API

We’ve made the following updates to our API:

  1. Breakdown data with a single API request. We’ve released a new API endpoint that simplifies how you access breakdown data. You can now retrieve structured breakdowns across dimensions like chain, market sector, or product — all with one API call. This eliminates the need for multiple requests and manual data processing, especially useful for LLM integrations and teams building agentic workflows.

  2. Product-level data. Our API and Explorer now support product-level data. Users can break down project metrics by individual products — like USDC or USDT for stablecoin issuers.

  3. Higher request limits. We’ve upgraded our infrastructure to support significantly more traffic. All users now benefit from a 10× increase in request volume per minute and a 250× increase per day.

Interested in an API demo? Schedule a call here.


Prefer to explore on your own? check out our API docs here.