Base Protocol Token Rises by 275% After Coinbase Launches its L2 Network

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The price of the BASE token has jumped from around $2 to a high of $7.5 after US crypto exchange Coinbase announced it was launching a testnet of Base’s second layer solution.

After rising by about 275%, the price of the asset has entered into a correction phase. However, over the past 24 hours, the coin has still added more than 15%.

The capitalization of BASE barely exceeds $1 million. According to this indicator, the token is at the beginning of the third thousand of the CoinGecko rating. Presumably, speculators reacted to the consonance of the coin with the L2 decision from the largest US crypto trading platform.

At the same time, Coinbase has warned it does not plan to issue a new token. It uses ETH to pay fees.