JPMorgan: Coinbase could create $34B in value by launching Base token

JPMorgan estimates that Coinbase could create up to $34 billion in value if it were to launch a native token for its Layer 2 network, Base, The Block reported. The bank noted that a BASE token would establish a new revenue stream for the company, alongside its existing income from USDC and on-chain transactions. JPMorgan suggested that launching a token would be a way for Coinbase to directly monetize the success of its Layer 2 network. The Base network, which launched in August 2023, has surpassed $5 billion in total value locked (TVL).