Base
Crypto Investor Arthur Cheong Predicts Base Will Flip Coinbase’s Centralized Exchange Platform Volume
Published
3 months agoon
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adminVenture capitalist Arthur Cheong thinks Coinbase’s Ethereum (ETH) layer-2 scaling solution Base is primed to witness a surge in trading volume.
The DeFiance Capital CEO predicts on the social media platform X that on-chain spot decentralized exchange (DEX) volume on Base will flip Coinbase’s centralized exchange (CEX) volume “within six to 12 months.”
“Makes logical sense when you think about it, and it all comes together with the DeFi (decentralized finance) Renaissance thesis.”
Cheong believes Base is “the future of Ethereum.”
He also sees the DeFi sector surging alongside memecoins.
“Am I the only crazy one to think both DeFi Renaissance and memecoins supercycle can happen together?”
Base recently surpassed Arbitrum (ARB) to become the top Ethereum layer-2 scaler in terms of total value locked (TVL), according to the decentralized finance data aggregator DeFi Llama.
TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem.
Base currently clocks $2.45 billion in TVL, compared to $2.404 billion for Arbitrum. The only projects that register more TVL than Base are BSC (Binance Smart Chain), Solana (SOL), Tron (TRX) and Ethereum itself.
Coinbase launched Base last year. The top US crypto exchange says it does not currently plan to issue a network token for the layer-2 scaler.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Coinbase (COIN) Stock Could Become Available on Base Chain, According to Creator Jesse Pollak
Published
3 days agoon
January 6, 2025By
adminThe creator of Base, the blockchain of top US-based crypto exchange Coinbase, says that the company’s stock (COIN) could soon become available on-chain.
In a new thread on the social media platform X, Base developer Jesse Pollak says that eventually, every asset in the world will be on Base, including COIN.
However, Pollak notes that some traders can already access COIN on Base through asset tokenization protocol Backed.fi, adding that regulatory clarity would “unlock” it for everyone.
According to Pollak, Coinbase has not yet formulated concrete plans to bring over real-world assets to the blockchain, which launched in August 2023 as an Ethereum (ETH) layer-2 scaling solution.
“And to clarify even further: there are no concrete plans right now. We are in an exploratory phase and working to understand what needs to be unlocked from a regulatory perspective to bring assets like COIN to Base in a safe, compliant, future-looking way. Still day one.”
Looking at a longer arc of time, Pollak reiterates Base’s plans to see the blockchain as the backbone of global transactions.
“Base’s north star is to build a global economy, on-chain… We are going to bring $1 trillion+ assets to Base and it’s going to happen faster than anyone expects – still day one.”
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Jesse Pollak Reveals Efforts To Tokenize Coinbase COIN On Base
Published
6 days agoon
January 3, 2025By
adminJesse Pollak, the core builder of the Coinbase Exchang-backed Ethereum layer-2 network Base has hinted at the plans for the tokenization of the firm’s COIN stock available on the protocol. He shared this vision in a post on X where he said “every asset in the world will be on Base.”
The COIN Tokenization on Base
According to Jesse Pollak, integrating COIN on Base is something the layer-2 developers are currently looking into. Amid conversations with community members, Pollak confirmed that despite the new tilt, there are no concrete plans regarding this tokenization for now.
The Base developer said the team are in an exploratory phase for now. The goal here remains to understand what the team needs to unlock from a regulatory standpoint that will enable COIN tokenization on Base. Considering the fragile nature of regulations in the United States, Pollak said the goal remains to launch COIN on the protocol “in a safe, compliance and future looking way.”
Despite the reservations, he confirmed that users can already access COIN on other protocols like BackedFi. However, the accessbility to BackFi is limited to non-US citizen. It remains crucial to secure regulatory clearance in order to unlock the product for all users as an open source platform.
and to clarify even further: there are no concrete plans right now. we are in an exploratory phase and working to understand what needs to be unlocked from a regulatory perspective to bring assets like $COIN to @base in a safe, compliant, future looking way.
still day one.
— jesse.base.eth (@jessepollak) January 3, 2025
In all, Jesse Pollak reassured community members that it is still day one, implying there is room for more plan refinement. The COIN launch on Base might help solidify the protocol’s rank as the biggest L2 on Ethereum after recently outshining Arbitrum.
Tokenization of Real World Assets: Who’s Leading the Pack
Tokenization is a growing trend in the digital currency ecosystem with firms like Franklin Templeton and BlackRock taking the lead. While Franklin Templeton is one of the pioneered on Wall Street, BlackRock’s BUIDL money fund has continued to stir major milestone.
These asset managers are expanding their tokenized funds to protocols like Base Network for more reach.
BlackRock has continued to expand since its introduction last year. Lately, Frax Finance said its DAO has approved BUIDL as frxUSD reserve asset. This marks one of the major protocol expansion reported in the past few months.
Besides these firms, Ripple Labs is also getting into the tokenization game. Specifically, it has a partnership with Archax with growing reliance on RLUSD stablecoin and XRP Ledger as innovations to help drive growth in this niche.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Base
Korbit partners with Coinbase to host Base Chain in South Korea
Published
2 months agoon
November 8, 2024By
adminSouth Korean crypto exchange Korbit has partnered with Coinbase to bring Base Chain onto the platform. Now, users can perform Base Chain deposits and withdrawals directly on Korbit.
According to a Business Korea report published on Nov. 8, Korbit has signed a business agreement with U.S major crypto exchange Coinbase to host the Base Chain Network on their platform.
Through Korbit’s collaboration with Coinbase, its users can now perform multi-chain deposits and withdrawals directly on the Korbit platform. For instance, users can deposit Ether(ETH) on the Ethereum Chain and withdraw it on the Base Chain(BASE) and vice versa.
In return, Coinbase will support Korbit through promotional efforts, community events, and introduction into the Base Chain ecosystem.
Not only that, the partnership between the two companies will also result in collaborative efforts to develop on-chain technology in South Korea and expanding support for Base Chain functions across the country.
CEO of Korbit, Oh Se-jin, expressed optimism in Korbit’s partnership with Coinbase. He hopes the collaboration will serve to further expand South Korea’s growing virtual asset industry.
“This is an opportunity to develop business models aligned with rapidly changing global trends and secure market competitiveness. We will provide differentiated benefits to users through various new services in the future,” said Oh.
Vice president of business development at Coinbase, Dan Kim, said that Base Chain is excited to welcome more Korean traders into its on-chain ecosystem. He described Base Chain as a platform that aims to be accessible to anyone anywhere.
“We look forward to continuously working with Korbit, including hosting buildathons and hackathons and educational community events in Korea,” said Kim.
Base Chain is Coinbase’s Ethereum Layer 2 blockchain designed to enable an on-chain application ecosystem. The blockchain network was launched in August 2023 with a focus on enhancing the dApp ecosystem on Ethereum.
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