Base Protocol's BASE token increased over 250% in value after crypto exchange Coinbase introduced the new Layer-2 network, Base.
The token fell into a decline once people realized it has no affiliation with Coinbase's new blockchain.
BASE token's value jumped from $1.90 to around $7 within just a few hours after Coinbase's launch.
- Then, the price regressed to the $2 level with a gradual correction.
- The token's daily trading volumes also jumped from $46,000 to over $1.1M.
- Base tokens are traded at the crypto exchange Gate.io and on the decentralized exchange (DEX) PlasmaSwap.
- BASE reached its all-time high in March 2022 at $7.98.
Coinbase launched its Ethereum-powered Layer-2 blockchain network, Base, in which developers can build decentralized apps (dApps) on blockchains and Layer-2 networks securely at low cost.
- At the launch, the crypto exchange explicitly stated that it had no plans to release a native token for Base.
- Coinbase's Base blockchain built using Optimism's open-source developer toolkit OP Stack also caused tokens of the Optimism ecosystem, including OP, VELO, SONNE, OPX, PERP, THALE, HND, RING, and PICKLE, to surge rapidly in value within 24 hours.
