Ethereum Layer-2 Solution Base Network Faces Scrutiny After Outage
On August 5, 2025, Coinbase's Ethereum layer-2 scaling solution, Base Network, experienced a significant 30-minute outage that halted block production at height 33,792,704. The disruption affected critical functions including deposits, withdrawals, and Flashblocks, marking the network's first major downtime since its launch. While engineers quickly resolved the incident, the lack of an immediate root cause analysis from the Base team has reignited discussions about the reliability and decentralization of layer-2 solutions. Blockchain explorers such as BaseScan and OKLink detected the interruption, but the incident has raised questions about the robustness of Ethereum's scaling infrastructure. As the cryptocurrency community awaits a detailed post-mortem, this event underscores the growing pains of layer-2 adoption and the need for transparent communication in decentralized ecosystems. The outage comes at a pivotal time for Ethereum's scalability roadmap, with many projects relying on solutions like Base to reduce congestion and fees on the mainnet.
Base Network Outage Halts Transactions, Sparks Decentralization Debate
Coinbase's ethereum layer-2 solution Base suffered a 30-minute outage on August 5, 2025, freezing block production at height 33,792,704. The disruption impacted deposits, withdrawals, and Flashblocks before engineers resolved the incident—Base's first major downtime since launch.
While blockchain explorers like BaseScan and OKLink flagged the interruption, the team provided no immediate root cause analysis. The swift recovery did little to assuage DeFi users' concerns about single-point vulnerabilities in layer-2 ecosystems. "This is a sharp reminder that decentralization still matters," observed one commentator, sparking comparisons with alternative chains boasting stronger uptime records.
Ethereum Price Could Surge to $5,600 by November Amid Institutional Accumulation
Ethereum's price remains below $4,000, but institutional interest is reaching fever pitch. Publicly traded companies now hold nearly $3 billion worth of ETH, making it the third-largest crypto treasury asset. BitMine Immersion Technologies leads the pack with 833,137 ETH—valued at over $3 billion—and aims to control 5% of Ethereum's total supply.
Whales and institutions are aggressively accumulating ETH through OTC desks. Three new wallets acquired 63,837 ETH worth $236 million in a single day via FalconX and Galaxy Digital. Since July 9, fourteen wallets have scooped up 856,554 ETH valued at $3.16 billion.
Technical patterns suggest a potential breakout. ETH has faced repeated rejection at the $3,800-$3,900 resistance zone but maintains strong support at lower levels. Fundstrat's Tom Lee projects a rally to $5,600 by November if historical accumulation phases precede similar upside.
Coinbase’s Base Network Resumes Operations After Brief Outage
Coinbase's Ethereum Layer 2 network, Base, experienced a 29-minute service disruption on August 5, halting block production at height 33,792,704. The outage temporarily affected deposits, withdrawals, and network functions before normal operations resumed at 06:44 UTC.
This marks Base's second technical incident since its September 2023 outage, which lasted over 40 minutes. The team has not disclosed root causes for either event, though past disruptions were attributed to infrastructure updates rather than security breaches.
The network continues gaining traction following its Base App launch, which integrates decentralized social platforms like Zora and Farcaster. These developments coincide with increased token launches and user activity across the ecosystem.
Winner Mining Launches High-Yield ETH Cloud Mining Program to Celebrate Ethereum's 10th Anniversary
WinnerMining, a leading cloud mining platform, has unveiled a newly upgraded high-yield program to commemorate Ethereum's 10th anniversary. Select premium contracts now offer daily passive earnings of up to $15,000, marking a significant milestone in cloud mining innovation.
Ethereum's decade-long evolution has cemented its role as the backbone of smart contracts, DeFi, and NFTs. As the blockchain enters its next chapter, cloud mining emerges as the infrastructure of choice for retail and institutional investors alike. WinnerMining's latest initiative bridges accessibility with profitability, eliminating hardware management barriers while delivering transparent returns.
Founded in 2021, WinnerMining has built its reputation on compliance and security—cornerstones that align with Ethereum's ethos of decentralized trust. The timing of this launch capitalizes on growing institutional interest in crypto yield generation amid broader market recovery.
SharpLink Gaming Expands Ethereum Treasury with $265 Million Purchase
SharpLink Gaming has significantly bolstered its Ethereum holdings, acquiring an additional 83,561 ETH worth $264.5 million last week. The Nasdaq-listed company now holds 521,939 ETH, valued at nearly $1.9 billion, as part of its strategic pivot toward cryptocurrency accumulation.
The Minneapolis-based firm executed the purchases between July 28 and August 3 at an average price of $3,634 per ETH. SharpLink's stock (SBET) has surged over 420% since late May, when it first announced its $425 million Ethereum treasury initiative.
Ethereum's price remained stable during the acquisition period, trading slightly below $3,630. SharpLink's ETH-per-share ratio now stands at 3.66, marking an 83% increase since the treasury strategy began in early June.
Spot Ethereum ETFs Record $465M Outflow Amid Market Stability
US spot Ethereum exchange-traded funds (ETFs) faced a seismic shift on Aug. 4, with net outflows hitting $465.1 million—the largest single-day withdrawal since their debut. BlackRock's ETHA led the exodus, hemorrhaging $375 million and snapping a 21-day inflow streak. Fidelity's FETH and Grayscale's offerings followed suit with $55 million and $34.98 million in outflows respectively.
This capital flight contrasts sharply with July's euphoria, when over $5 billion flooded into ETH-backed ETFs. Yet the market remains unfazed—ETH held steady at $3,623, even posting a 1.4% gain during the turmoil. The divergence between fund flows and price action suggests institutional repositioning rather than bearish sentiment.
