The price of the Base Protocol (BASE) token jumped from levels around $2 to a high of $7.5 after Coinbase announced it was launching a testnet of Base’s second layer solution.
Following an increase of approximately 275%, the quotes moved to a correction. 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 American exchange.
At the same time, Coinbase warned that they did not plan to issue a new token. It uses ETH to pay fees.
2/ Important: Base is *not* a token
We do not plan to issue a new network token for Base and will use ETH as the native gas token.
— Coinbase (@coinbase) February 23, 2023
Coinbase has built a new network based on the architecture OP Stack from another Ethereum solution of the second level – Optimism. The OP token has risen in price by almost 12% over the past day.
The day before, the Synthetix synthetic asset platform team deployed the third version of the protocol on the Ethereum and Optimism mainnet.
Recall that the developers of the DeFi project launched this L2 network in 2021.
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