{"id":74596,"date":"2023-02-24T10:20:30","date_gmt":"2023-02-24T08:20:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74596"},"modified":"2025-09-09T21:03:13","modified_gmt":"2025-09-09T18:03:13","slug":"base-protocol-token-jumps-275-on-coinbases-l2-network-launch","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/base-protocol-token-jumps-275-on-coinbases-l2-network-launch\/","title":{"rendered":"Base Protocol Token Jumps 275% on Coinbase\u2019s L2 Network Launch"},"content":{"rendered":"<p>The Base Protocol token (BASE) price jumped from around $2 to a high of $7.50 after <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-launches-testnet-for-base-its-l2-on-op-stack\">the announcement by Coinbase<\/a> of Base&#8217;s Layer-2 solution testnet launch<\/a>.<\/p>\n<p>Following a rally of about 275%, prices cooled, but in the last 24 hours the token still added more than 15%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/tHg1FRrJqmuG2iLuRWs8CLl8YEok89Duu6UlA9UOdy6Aji5r4-p0_l9k4Xc4Q4UAS0Yn7yGkWswEctleZsfE10e9PGdeSblIHjT9jsEEAlDTzUZpczWWSU4_MpkXUO9llBRs8X_dePhJEKT-KwU9T1M\" alt=\"Base Protocol token up 275% on Coinbase L2 network launch\"\/><figcaption>Data: <a href=\"https:\/\/www.coingecko.com\/en\/coins\/base-protocol\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>BASE&#8217;s market cap barely exceeds $1 million. By this metric the token sits at the low end of CoinGecko&#8217;s top 3,000. Speculators apparently reacted to the coin&#8217;s name echoing Coinbase&#8217;s L2 offering.<\/p>\n<p>Coinbase has warned that it does not plan to issue a new token. Fees are paid in ETH.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">2\/ Important: Base is *not* a token<\/p>\n<p>We do not plan to issue a new network token for Base and will use ETH as the native gas token.<\/p>\n<p>\u2014 Coinbase (@coinbase) <a href=\"https:\/\/twitter.com\/coinbase\/status\/1628760205692485633?ref_src=twsrc%5Etfw\">February 23, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Coinbase built a new network on the OP Stack architecture from another Ethereum Layer-2 solution \u2014 Optimism. The OP token rose almost 12% in the last 24 hours.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/l0RIuKK4DnsgW2WLq0iyYZ_TUbaVRlWicRl3e85-qVXoiFy-jzIUNqwAzyhWO_AjuQRXCZXonJxFUylSVAV2Cstf3vht7te7CRc7zlSFysodP_LBAq0MBAvLAfKcoCnw8Gt2xcLmnjGjoqkSaAj_xM0\" alt=\"Base Protocol token up 275% on Coinbase L2 network launch\"\/><figcaption>Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Yesterday, the Synthetix <a href=\"https:\/\/forklog.com\/en\/news\/synthetix-launches-third-version-of-its-protocol-on-ethereum-mainnet-and-optimism\">deployed<\/a> the third version of the protocol on the Ethereum mainnet and Optimism.<\/p>\n<p>Earlier, the DeFi project developers <a href=\"https:\/\/forklog.com\/en\/news\/defi-project-synthetix-launches-ethereum-layer-2-solution-optimistic-ethereum\">launched<\/a> this L2 network in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Base Protocol token (BASE) price jumped from around $2 to a high of $7.50 after Coinbase announced the launch of Base&#8217;s Layer-2 solution testnet.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1179,596],"class_list":["post-74596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-layer-2-solutions","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74596"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74596\/revisions"}],"predecessor-version":[{"id":74597,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74596\/revisions\/74597"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}