BASE 2025 Roundup: Layer-2 Network Posts Record Growth Across Key Metrics

• Base daily transactions grew 24 times year-over-year, while processing 4.4 billion cumulative transactions 
• The network captured 62% of total layer-2 revenue, with protocol fees reaching $75 million annually
• Aerodrome Finance generated $160.5 million, representing 43% of Base’s total application revenue 
• Base App attracted 500,000 users, while creators earned $6.1 million in the second half of 2025 

Base wrapped up 2025 with exceptional performance across network activity, revenue, and user adoption. 

The Ethereum layer-2 became the fastest to reach stage 1 decentralization while processing over 4.4 billion cumulative transactions. Daily active users grew nearly eight times year-over-year. Total value locked expanded to more than $11 billion. 

The year marked a transition from experimental adoption to sustained mainstream usage.

Network Activity Maintained Momentum Throughout the Year

Base recorded daily transactions that grew approximately 24 times compared to 2024. Regularly, the transactions per day were between 10 and 11 million.

The number of peak transactions exceeded 14 million. This kept rising throughout the year. It did not peak with specific events.

The active daily addresses were about 500,000 in the fourth quarter. The addition of new users increased 12 times year-over-year.

Base Daily reported that sustained activity drove these numbers rather than speculative trading spikes. The network attracted over 148,400 daily users through the Base App alone by year-end.

Base achieved stage 1 decentralization faster than competing layer-2 solutions. This milestone represented a critical step for Ethereum’s scaling infrastructure. 

The network balanced decentralization with performance requirements effectively. Technical progress occurred alongside user growth throughout 2025.

Revenue Generation Scaled With Transaction Volume Growth

Protocol revenue expanded roughly 27 times during 2025. The network captured about 62 percent of total layer-2 revenue by year-end. 

Annualized protocol fees reached approximately $75 million. Transaction fees nearly doubled as volume increased across various applications.

Ecosystem total value locked grew 21 times, exceeding $11 billion. Applications generated approximately $369.9 million in combined revenue throughout the year.

Stablecoin balances reached $4.6 billion, with USDC dominating as the settlement asset. Bridged assets totaled around $11.5 billion from various chains.

The network processed $16.8 trillion in stablecoin transfer volume during 2025. This established Base as a major settlement layer for payments. 

Developer activity increased with over 25,000 developers and 700-plus applications joining by the third quarter. Economic expansion occurred across DeFi, payments, social applications, and brand activations simultaneously.

DeFi Applications Dominated Revenue and Liquidity Concentration

Aerodrome Finance led application revenue with approximately $160.5 million generated in 2025. 

This represented 43 percent of Base’s total decentralized application income. Aerodrome became the single largest revenue contributor within the ecosystem. Morpho’s total value locked on Base expanded from $350 million to $3.1 billion during the year.

Base users borrowed approximately $1.13 billion through Morpho protocols. This accounted for roughly 36 percent of all active Morpho loans across chains. 

Base captured about 46 percent of the total layer-2 DeFi. The network held $4.5 billion in DeFi total value locked by year-end. Liquidity concentrated in USDC, Morpho, Aave, Aerodrome Finance, and Spark protocols.

Coinbase-issued cbBTC reached approximately $6.5 billion in circulation on Base. This provided compliant Bitcoin exposure for money markets and yield protocols. 

Virtual Protocol contributed around $43 million in revenue, representing 12 percent of application income. 

Community tokens like TOSHI and BRETT helped bootstrap early adoption before users migrated to sophisticated applications. 

Major brands leveraged Base for token campaigns due to fractional transaction costs.

Consumer Adoption Expanded Beyond Traditional DeFi Users

Base App has finalized its switch from beta to general release in 2025. Base App managed to attract a total of 500,000 users by the end of the year.

It combined social feeds, trading UIs, and mini-app distribution on a single platform. Over 1 million people signed up for its waitlist before its public release.

In October, beta testing began onboarding approximately 80,000 users. The platform generated over 6.52 million tokenized posts throughout the year. 

Creators earned approximately $6.1 million in the second half of 2025 alone. Base_Insights acknowledged that most content attracted minimal engagement, while a small percentage achieved viral distribution.

Zora coins launched during the year and surpassed $1 billion in trading volume within 12 months. This proved that on-chain social applications could sustain real user engagement. 

Base Daily characterized 2025 as the year protocol economics aligned with consumer adoption patterns. The network processed diverse transaction types, including trading, creator interactions, and settlement operations. 

Looking ahead to 2026, observers expect the Base App’s full launch to expose millions of Coinbase users to tokenized content. The compliance-focused infrastructure positions Base for potential institutional adoption in real-world asset tokenization and stablecoin rails.

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