According to its research, lending is slowly becoming more modular as lending has now broken down into many special enterprises that each take care of some aspects of origination, distribution, risk, and infrastructure needed for this process. Base is beginning to display how this transformation appears when taking place on a big scale. The lending total value locked (TVL) on Base stands at approximately $4.56 billion, as stated by DeFiLlama. Out of this, Morpho accounts for approximately $3.94 billion, while active loans worth approximately $1.93 billion are given out by it. Aave V3 follows the race with TVL of around $513 million and active loans worth $354 million.

Morpho and Aave account for 53% of the TVL on Base

The trend is not an unusual one for Base, as Galaxy’s estimate of total DeFi lending TVL was around $39.9 billion in July, with a combination of both Aave and Morpho accounting for 53.1% of the share. The total TVL, according to Galaxy, stood at about $13.9 billion for Aave and $7.3 billion for Morpho. Coinbase is bringing decentralized finance lending to those who might never experience a lending protocol first-hand. The crypto-backed loan lets qualifying customers borrow USDC versus crypto on Coinbase’s platform.

Coinbase characterizes the product as: “powered by Morpho”. This is the essence of the partnership: Coinbase manages customer relations, while Morpho provides all of the on-chain infrastructure. Even if the loan is powered by decentralized technology, the experience for borrowers seems very much like a conventional financial transaction. Coinbase allows a maximum of $5 million in USDC with Bitcoin in the United States but lower amounts of USDC with some other crypto assets, which comes with an 86% liquidation threshold.

Coinbase advertises its US rates as low as 5%. This arrangement might account for the increase in Base’s lending capability. Instead of making users interact with DeFi themselves, Coinbase can direct lending requests to Morpho. Base’s strategy for 2026 also delivers the same message, emphasizing deeper liquidity of stablecoins through trading, borrowing. and lending. More lending also makes USDC increasingly important to Base’s financial plumbing. A February analysis found that Base was a major contributor to record stablecoin transfer activity, with Morpho among the contracts generating large USDC flows.

There is a hitch in the story. The same analysis found that around 50% of the adjusted USDC volume of $5.3 trillion in January on Base was driven by a small number of DeFi contracts, while part of the Morpho transactions concerned flash loans, being borrowed and paid off in the same deal. Therefore, high volume does not necessarily indicate high present economic activity. Institutional interest is still growing. According to Galaxy, Standard Chartered initiated coverage of Morpho and Aave. Morpho raised $175 million in June.

Cryptopolitan also reported early this month that the outstanding loans on Morpho reached an all-time high of $5 billion, which demonstrates how quickly Morpho is catching up with Aave. The record also highlights a risk: Base lending is becoming increasingly dependent on a small number of protocols and collateral markets, with Coinbase emerging as an important distribution channel into Morpho. That can improve liquidity and capital efficiency, but it also makes smart-contract, oracle, curator, and collateral-risk controls more important.

The post Base lending enters $2.75 billion as Morpho and Aave lead surge first appeared on Coinfea.

Coinbase’s ambitious “Onchain Summer” initiative underpins this move, a multi-week campaign inaugurated on August 9. The “Masterpiece” collection’s emergence coincides with this celebration, adding artistic flair to the campaign’s spectrum of on-chain art, gaming, and music endeavors. The mainnet launch of Base serves as the backdrop for this creative exploration.

A standout feature of the “Masterpiece” collection is its juxtaposition of classic art masterpieces like Edvard Munch’s “The Scream” and Johannes Vermeer’s “Girl with a Pearl Earring” with Coca-Cola’s contemporary brand identity. This eclectic blend pays homage to Coca-Cola’s recent “Masterpiece” commercial, wherein artificial intelligence played a pivotal role.

Comprising eight distinct NFTs, the collection carries price tags ranging from 0.0011 ETH to 0.014 ETH. Interestingly, some of these NFTs are trading below their initial prices on the OpenSea NFT exchange. The collection’s exclusivity is magnified by the impending closure of minting on Wednesday, beckoning potential buyers to seize the opportunity.

Coca-Cola’s familiarity with the NFT space dates back to July 2021, when the company auctioned four NFTs, raising over $575,000 for charity. Last year, the brand released 136 collectibles commemorating Pride Month, solidifying its presence in the NFT landscape.

As Coca-Cola further immerses itself in the digital realm, the boundaries between physical and digital domains continue to blur. The “Masterpiece” collection’s union of historical and contemporary art offers a novel lens through which to view the brand’s heritage.

It underscores the dynamic potential inherent in the convergence of technology and art. This strategic foray into NFTs underscores the brand’s embrace of digital art’s burgeoning influence, setting a precedent for traditional brands to explore new horizons.

The post Coca-Cola makes artistic splash with NFT collection on Coinbase’s Ethereum Layer 2 first appeared on Coinfea.