Newsletter
Base’s growing app ecosystem pushes TVL to $8B
+ new project listings & product updates
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)
Superstate, a leading RWA issuer & asset manager on Ethereum & Plume.
Sonic, an EVM L1 blockchain with a focus on DeFi.
Moonbeam, an Ethereum-compatible Polkadot parachain.
Basic listings (partial listing with up to 6 metrics)
Our two listing categories:
Interested to get listed? Read more here.
PRODUCT UPDATES
Three major updates to our API
We’ve made the following updates to our API:
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.
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.
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.
The authors of this content, or members, affiliates, or stakeholders of Token Terminal may be participating or are invested in protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Token Terminal does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only, and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Token Terminal at any time without notice. Token Terminal accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.
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