Base Stablecoin Market Cap Surges to $5.2B Milestone In 2026

Base Stablecoin Growth Highlights Coinbase’s Expanding L2 Role

Base, Coinbase's Ethereum Layer-2 network, has touched a new, all-time-high market capitalization of $5.2 billion in Base Stablecoin, according to recent DefiLlama data. The chart trended upward steadily from less than $1 billion around the middle of 2024 and trended upward into this peak in early 2026.

Source: DefiLlama Official

This achievement shows the strong trust in both Base-network and the stablecoins’ market amid the frequent volatilities faced by the users. From an on-chain liquidity perspective, Base is now emerging as Coinbase’s primary settlement layer for stablecoin activity.

Role of Coinbase in Base Stablecoin Rapid Expansion

Coinbase plays a major contributor to the network’s growth. Thanks to direct integration with Coinbase’s exchange and wallet, millions of users can easily move funds onto Base. This efficient access assisted the platform's stablecoin supply growth over the time, where USDC (90.90%) makes the majority of stable coins on the network. 

Rolled out in 2023, Base uses OP Stack of Optimism for its core foundation with Ethereum chain for security. While using Ethereum, it still offers more cheap and efficient transactions in comparison to Ether itself. This network does not have its own token and uses ETH as a means for gas; it keeps things simple and aligned with Ether.

How Coinbase-Powered Layer-2 Compares With Other Ethereum L2s

While other major Layer-2 networks of Ethereum such as Optimism, Polygon, zkSync, remain active, Coinbase-backed L2 showed a significant surge in supply and daily usage that too in a short time. At present, the network processes more than 10 million in daily transactions by supporting around 600K–1M active addresses, leading Ethereum L2s in real-world usage.

Although Arbitrum still holds first position in TVL (Total Value Locked) with some reports often showing $10+ numbers, Coinbase-powered Layer-2 stands strong for its transaction velocity and user growth. It records $800M–$3B in daily volume on DEX. 

Why Stablecoins Matter in Today’s Market

Stablecoins in today’s time are representing more than a form of crypto product. Increasing volatility, geopolitical tensions, weakening native currencies and sanctions often put traders and large institutions at risk. 

Stablecoins, which are pegged with a fixed value, support investors in these scenarios, giving seamless, low risk, cross-border access. 

The global stablecoin market has now reached over $311 billion, supporting DeFi activities, hedge reserves and payments. And now with Coinbase-backed L2’s growing supply it is  increasing more in payments, trading.

Crypto experts also noted that the Base-network has remained resilient even during market pullbacks, making it a key network to watch for on-chain activity trends.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile, do your own research before investing.