Coinbase Wallet Rebrands To Base App; COIN Stock Jumps 56%

Coinbase’s Base Layer-2 is opening a new chapter, growing from a L2 chain based on Ethereum (ETH) to a full-fledged open stack for creators, developers, artists & business owners. The revamp was announced during the “It’s a new day one” speech by Jesse Polak, the creator of Base chain.

Coinbase Stock Soars, Base Chain Gets 10 Times Faster

Him & Coinbase’s CEO Brian Armstrong introduced the three-fold Base stack, which delivers a key glow-up to the Coinbase Wallet, known as Base App from now on. This new app is built on open protocols and is meant to be the all-in-one Web3 home for crypto enthusiasts.

Then, there’s the Base Build, a vibrant developer ecosystem that provides tools to build new decentralized applications (dApps). Developer teams can control their operations with the Base Build dashboard, making the monetization of these mini Web3 applications easy.

Moreover, Base chain has just become 10 times quicker due to the Flashblocks update going live on the Layer-2’s mainnet. Indeed, the effective block times were reduced from 2 seconds to just 200 milliseconds, optimizing this Coinbase-owned chain for huge trading volumes.

As the story unfolded, Coinbase’s publicly traded shares picked up a 2.62% increase since last close. Right now, Coinbase (BASE) stock is valued at $398.20, growing by a gigantic 56.86% in 30 days. The yearly timeframe portrays a new Coinbase stock price record on the edge of $400.

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People Also Ask:

What’s the deal with Coinbase Wallet transitioning into Base App? Coinbase Wallet rebranded to Base App, morphing into an all-in-one platform for trading, USDC payments, social vibes via Farcaster, and mini-apps, built on Coinbase’s Ethereum Layer-2 Base Chain. It’s aiming to be crypto’s “super app.”

Why’s COIN stock pumping 56%? COIN stock (current price ~$398.2) soared due to hype around the Base App launch, strong Base ecosystem growth (TVL over $4B), and pro-crypto market sentiment, possibly boosted by regulatory tailwinds.

What’s cool about Base App’s features? Base App offers a slick Base Account for cross-chain identity, Base Pay for near-instant USDC transactions, tokenized posts for creators to earn, and mini-apps like games, all with sub-second transaction speeds via Flashblocks tech.

Any risks or FUD around Base App? Some call it a “tone-deaf” pivot, onboarding can be clunky, and regulatory hurdles or trust issues could slow adoption. Plus, rewards aren’t available in the EU or Canada yet.

Where can I get more alpha on Base App? Dive into X for community takes, check DailyCoin for sharp crypto news, or hit Coinbase’s site and docs.cdp.coinbase.com for official details on Base App and the ecosystem.

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