JPMorgan "Coinbase could create up to 34 billion dollars in value if it issues a Base token"

JPMorgan analyzed that Coinbase could create up to 34 billion dollars in value if Coinbase issues a token for the Layer-2 network Base.

On the 25th (local time), The Block reported that JPMorgan's equity research team said in a report, "If Coinbase issues a Base token, considering current network activity and the token economic model, the token's market capitalization would be between 12 billion and 34 billion dollars."

JPMorgan said, "A Base token could serve to equitize the performance of Coinbase's Layer-2 network." Since its launch in August 2023, Base's total value locked (TVL) has surpassed 5 billion dollars, and its daily transaction volume has exceeded 9 million.

Meanwhile, Coinbase said it is reviewing Base token issuance but has no concrete plans. Jesse Pollak (Jesse Pollak), Base's founder, said at last month's 'BaseCamp(BaseCamp)' event, "Token issuance could accelerate the network's decentralization and expand builder participation," and Brian Armstrong, Coinbase's chief executive officer (CEO), also acknowledged via X that the discussion is underway.