The BASE network by Coinbase has quickly attracted attention due to its significant growth and active use. Recently, the leadership of the network discussed the possibility of launching its token.
Overview of BASE Token
Coinbase previously announced that it would not launch a token for its Ethereum Layer 2 solution. At the time of this announcement, the cryptocurrency space in the U.S. was not as liberated as it is today. Had conditions been more favorable, Coinbase likely would not have missed the opportunity to gain significant profits.
Potential Impact of BASE Token
Recently, Jesse Pollak, President of the Base ecosystem, revealed that they are exploring the idea of launching a token for the BASE network. This is a considerable step forward because:
* The total value locked (TVL) is at a record level of $5 billion. * The stablecoins on the network total $4.3 billion. * The daily network transaction fee revenue exceeds $115,000, surpassing many famous networks. * The DEX volume stands at $1.27 billion. * The number of active addresses in 24 hours is approximately 971,000, indicating nearly 1 million daily active users on the network. * The total reserve of bridged assets is over $21 billion.
Coinbase's Response to Token Discussions
Despite the downturn in cryptocurrencies, Coinbase (COIN) shares continue to rise. This is hardly surprising. At 17:54, Coinbase confirmed, "Yes, we are considering launching a token and exploring how it can accelerate our shared mission. There is no definite plan or timeline yet."
The discussion of a token launch for the BASE network highlights the growing interest and development within the Coinbase ecosystem. The emergence of a token could attract even more users and investments into the network.
