Launched by Coinbase, the BASE network quickly garnered attention for its significant growth. At the time of its launch, Gary Gensler loomed over the cryptocurrency industry, pressuring companies and stifling initiatives. Consequently, the idea of creating a native token for the network was abandoned from the outset. What do we know about BASE Coin? Let’s explore.
BASE Coin Overview
Coinbase had previously announced that they would not launch a token for their Ethereum 
$2,318 Layer 2 solution. However, when this was declared, the cryptocurrency space in the United States was not as liberated as it is today. Had conditions been more favorable, Coinbase would not have hesitated to make such a move to obtain 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 network has a total value locked (TVL) 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.
This suggests that introducing a token could create significant buzz in the industry.
Despite the downturn in cryptocurrencies, Coinbase (COIN) shares continue to rise. This is hardly surprising.
17:54 Update Coinbase: Yes, we are considering launching a token and exploring how it can accelerate our shared mission. There is no definite plan or timeline yet.
