JPMorgan оценивает токен Base от Coinbase в $34 млрд благодаря росту рынка децентрализованных платформ Translation: JPMorgan values Coinbases Base token at $34 billion due to the growth of decentralized platforms market.

The combined market valuation of the Coinbase-supported Layer 2 network, Base, is projected to range from $12 billion to $34 billion following its launch, according to a report from The Block referencing JPMorgan’s findings.

Experts anticipate that the leading U.S. cryptocurrency company could retain up to 40% of the asset’s supply, translating to a stake worth between $4 billion and $12 billion.

The bank’s analysts have estimated the potential market capitalization of the Base token based on on-chain activity within its ecosystem, suggesting that the token’s price could be tied to the network’s success.

Since its launch in August 2023, the total value of assets locked on Base has exceeded $5 billion, with the protocol averaging more than 9 billion transactions daily.

In early October, Jesse Pollak, the creator of the Layer 2 solution, announced that they were gathering design proposals for the future network token. The community speculates that a primary goal of distributing BASE could be to boost Coinbase’s stock price (COIN).

JPMorgan shares this view, raising its stock price forecast for the company to $404 by December 2026. They cited “the emergence of new monetization opportunities and decreased risks” as Coinbase increasingly focuses on the L2 network ecosystem and the stablecoin economy.

Bank specialists highlighted as an additional factor the interest income generated from Circle’s reserves that back USDC. Currently, the exchange allocates a significant portion of its funds—around $374 million annually—among users. Analysts report that Coinbase is contemplating limiting payouts.

They also pointed to the integration of a DEX aggregator within the Base app as a response to the rise in trading volumes on decentralized platforms, which now account for 20% of total trading activity.

During Friday’s trading session, COIN’s price surged nearly 10%, bringing its value close to $355, with Coinbase’s market capitalization standing at around $91 billion.

It’s worth noting that Ethereum co-founder Vitalik Buterin praised Base’s achievements and expressed positive feedback on the team’s decentralization approach.