Coinbase announced at Basecamp that the Base 2 Blockchain on layer 2 explores a network token. And if that happens, it would be the biggest launch in years. Coinbase is already one of the biggest exchanges. And it is by far the largest ETF goalkeeper in industry.
Coinbase is an important player in the crypto, whatever they do. And they could soon have a token. What does it mean for you and is it worth buying? Let’s dive.
Why Coinbase is considering a token
First of all, before understanding why the base envisages a token, a question. Why don’t they already have one?
And the response to this is the United States and its regulatory environment. Coinbase already has its stock, which is a guarantee. Their concern is that the dry would not allow it or would not accuse them of compliance violations. The dry governs the coinbase stock. And it is not clear if the dry or the CFTC would regulate the emission of a token. The chains which are goods like Bitcoin, Ethereum, Litecoin and some others are under the eye of the CFTC. It is often better, even with the dry improved by Trump that we have now. This is why there was no token before now.
Today, the SEC responded to the Coinbase petition for a brief from Mandamus – asking the court to demand that the SEC just meet yes or not if it will undertake regulation for our industry. The response of the dry? Perhaps a resounding. 1/7
– Paulgrewal.eth (@iampaulgrewal) May 16, 2023
Now, I don’t think we have to go too deep in the reasons why a project would like a token. You already know them. But a few things that are specific to the coinbase include,
- Addition of significant value in Coinbase for its shareholders
- Rwa possibilities due to the Coinbase Coinbase regulation file
- The fact that Coinbase is the largest ETF goalkeeper in industry. It would be easy to tokenize the ETF on the chain on the basis.
- Many other income opportunities such as that of the ETF above due to the coinbase position in the industry.
- Good tokenomic and execution could make it a top 5 top 5.
Billions of dollars rise on digital active workflows such as the signing of the private key, the validation of transactions and updates to the big book.@coinbase manages around 70% of $ BTC #Etf The guardian activity and these FNBs are the fastest in history.
I believe that these fundamental processes are already … pic.twitter.com/g6e8jiazla– Reggie Middleton US11196566 US11895246 US12231579 (@Regiemiddleton) April 28, 2025
But like all things, it is not “in place only”. There are also risks. So let’s look at these.
Risks
And there are also risks. Especially if they are wrong with tokenomics. Optimism and arbitrum are high quality L2 with a token that does not work well. And looking objectively, it’s easy to see why.
Did you know that the basic chain and the new Unichain of Uniswap have both been built using Optimism’s tools and are part of the superchain optimism?
You probably didn’t do it because most people don’t. And you don’t know it because the base and the uniswap do not publish it. Optimism either. Optimism does not earn more money on basic chain transactions to be the key to all their configuration. Thus, the token is not aligned with what the chain really does or on the income it brings together.
This is a key error that Coinbase must avoid if it wants the basic token to succeed.
The basic ecosystem
Without a doubt, the agents DEFI or AI are the largest sector of the basic ecosystem.
For the moment, DEFI dominates with platforms like Morpho, aerodrome and all applications that work transparently between the exchange of Coinbase and the basic chain to put people to the chain. It’s smooth and it works.
But AI agents on the basis develop quickly. In particular, virtuals and its agent ecosystem. Many of you already know Aixbt as agent Crypto Trading / News AI.
Aave deployment of $ 100 million in cash for not fighting Morpho or composed.
Building unbreakable pits before Jpmorgan and Goldman launched competing products.
First hostile takeover in DEFI. Capital forcing consolidation before the tradfi invasion.
– aixbt (@aixbt_agent) September 17, 2025
And rapid growth presence is basic remuneration. With him, you get tools to add a click payment with USDC payments on the basic chain. Fast, inexpensive, easy. This is how people want it. This is the sleeping sector inside the base. It will go further, faster, that Solana Pay has passed so far. And Solana Pay is fine. But they do not have a circle as a large investor as the base does.
What about Coinbase stock?
Well, if you have Coinbase actions, a symbol $ piece on the Nasdaq in the United States, you have a piece of a company of $ 84 billion. And the same goes if you have the XSTOCKS $ Coinx tokenized version with supported as a goalkeeper. What would a basic token for Coinbase shareholders?
Tuesday, a way of playing, and maybe you heard it discuss it on our space on this subject, is to buy Coinbase actions. The regular or tokenized version. For what?
Because the closest comparison for a network token of network token and exchange token is BNB. BNB has a market value of $ 130 billion. Now, a basic token is not going right away. But even if he launches $ 200 million, part of this goes to the team. What part of this value accumulates in the stock of Coinbase, since Coinbase has the chain?
No one knows the answer to this, but we know that the answer is more than zero. So it’s a way to play this. Buy a Coinbase stock or the XSTOCK version to keep it on the channel.
Could the base exceed the co-base in value?
Now this is an interesting question. What makes BNB so effective, and a few other exchange tokens too, is the alignment between use and other incentives. And how these things affect the token. The more people who use a binance, the more BNB costs are burned each quarter. Everyone wins. Binance is burning more than a billion dollars in $ BNB each quarter now.
$ Bnb I have just burned $ 1.02 billion in chips.
1.59 m $ Bnb Operated in burn Q32.
Over 50 m BNB already suffered from the power.
The media is real🚀 pic.twitter.com/ayb0bjygxn
– Evan Luthra (@evanluthra) July 10, 2025
So if Coinbase gets tokenomics and incentives correctly, be careful. The base could have value in the hundreds of billions of dollars. And it’s more than the value of Coinbase today.
Would that continue or would the value of the $ corner action also increase? No one knows. But cases like this have already occurred. Certain subsidiaries and sister companies are worth more than the whole company together. In fact, this is one of the ways in which Private Equity had used a lot of money. They would find and break the non -profitable pieces and held those which earn money. Or sell a profitable room to keep the rest for free.
The purchase of Coinbase shares could be a lower way to take advantage of how all this takes place.
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