JP Morgan Predicts Up to $34 Billion in Value Creation from Coinbase's Base Token Issuance

JP Morgan analysts, in a report released on the 24th, pointed out that the issuance of a proprietary token by Coinbase for its Layer 2 network 'Base' could potentially create up to $34 billion (approximately 5.2 trillion yen) in value. The bank has upgraded Coinbase's rating, positioning this as a major new revenue stream, as reported by The Block and others. Citing 'new monetization opportunities and reduced risks,' JP Morgan has set a target stock price of $404 by December 2025. The Base token, launched in August 2023 on an Ethereum-based Layer 2 network, is analyzed to be capable of capitalizing on the success of the stock value...