{"id":171512,"date":"2023-02-24T19:26:58","date_gmt":"2023-02-24T19:26:58","guid":{"rendered":"https:\/\/precoinnews.com\/?p=171512"},"modified":"2023-02-24T19:26:58","modified_gmt":"2023-02-24T19:26:58","slug":"coinbase-unveils-its-own-ethereum-layer-2-solution-called-base-unrelated-base-token-pumps-300","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/coinbase-unveils-its-own-ethereum-layer-2-solution-called-base-unrelated-base-token-pumps-300\/","title":{"rendered":"Coinbase Unveils Its Own Ethereum Layer 2 Solution Called \u2018Base\u2019; Unrelated BASE Token Pumps 300%"},"content":{"rendered":"

Expect crypto traders to jump on anything with a very remote relation to a trending topic to turn profits. BASE Protocol\u2019s BASE tokens saw a gigantic rally of over 300%, then corrected in the last 24 hours following the news that crypto exchange Coinbase is launching its Ethereum Layer 2 network, Base. The company clarified it has no plans to release a token for Base.<\/p>\n

A New Home For Coinbase\u2019s On-Chain Products<\/strong><\/h2>\n

Coinbase has officially joined the Ethereum Layer-2 rat race.<\/p>\n

The San Francisco-based digital asset exchange announced Thursday the launch of a testnet version of its Ethereum scaling product, Base. Per the official announcement, Base is intended as a \u201chome for Coinbase\u2019s on-chain products\u201d and \u2014 it hopes \u2014\u00a0 an open ecosystem for crypto developers.<\/p>\n

Built in collaboration with layer 2 network Optimism on Optimism\u2019s Massachusetts Institute of Technology-licensed OP Stack, the newly-announced protocol aims to make transactions faster and cheaper.<\/p>\n

Notably, Base will not be limited to Ethereum; it will also provide secure and seamless access to other layer-2 solutions, such as Optimism or Arbitrum, as well as other layer-1 blockchains like Solana and Avalanche.<\/p>\n

Base will start off centralized, but Coinbase plans to fully decentralize the chain over time. The Nasdaq-listed exchange was also keen to note that it has no plans to issue a new network token.<\/p>\n

To that end, Coinbase will allow developers to directly incorporate their product with Base and provide fiat onramps \u2014 targeting an estimated 110 million verified users and $80 billion in assets on the platform in the Coinbase ecosystem.<\/p>\n

The announcement by Coinbase seems to have lit a fire under Base Protocol (BASE), which surged from around $1.9 to a local high of over $7.05 on Thursday \u2014 an increase of over 300%. It should be noted that BASE has nothing to do with Coinbase\u2019s new project. The on-fire token has since retraced to $1.59 as of press time.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Expect crypto traders to jump on anything<\/p>\n","protected":false},"author":3,"featured_media":171511,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCoinbase Unveils Its Own Ethereum Layer 2 Solution Called \u2018Base\u2019; Unrelated BASE Token Pumps 300% - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/coinbase-unveils-its-own-ethereum-layer-2-solution-called-base-unrelated-base-token-pumps-300\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase Unveils Its Own Ethereum Layer 2 Solution Called \u2018Base\u2019; Unrelated BASE Token Pumps 300% - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Expect crypto traders to jump on anything\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/coinbase-unveils-its-own-ethereum-layer-2-solution-called-base-unrelated-base-token-pumps-300\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-24T19:26:58+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/02\/Coinbase-Unveils-Its-Own-Ethereum-Layer-2-Solution-Called-\u2018Base-Unrelated-BASE-Token-Pumps-300.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/coinbase-unveils-its-own-ethereum-layer-2-solution-called-base-unrelated-base-token-pumps-300\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/coinbase-unveils-its-own-ethereum-layer-2-solution-called-base-unrelated-base-token-pumps-300\/\",\"name\":\"Coinbase Unveils Its Own Ethereum Layer 2 Solution Called \u2018Base\u2019; 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