Base surpasses other L2 networks in stablecoin volume with USDC dominance in January 2026

In January 2026, Base became the most active Layer 2 network for stablecoin transfers, with USDC supply on the chain hitting a record level. Over 90% of Base's stablecoin balance is held in USDC, and the network now carries $4.81B in stablecoins, outpacing Arbitrum and Hyperliquid. More than 30% of on-chain activity on Base is linked to DeFi and other financial operations, supported by lending protocols such as Morpho and Aave.