Coinbase has launched a new Base App that merges social networking functionalities with cryptocurrency payments based on Ethereum Layer 2 technology.
Integration of Social Features and Payments
The launch of Coinbase's Base App marks a significant step toward integrating social networking and crypto functionalities. Users gain access to token exchanges, creator monetization, and real-time transaction views through a unified platform. Key changes include simplifying on-chain operations, allowing instant USDC payments and seamless social interactions, enhancing user experience.
Market Reaction to the App Launch
The market has responded positively to the Base App's capabilities, highlighting its potential to increase Ethereum's Layer 1 utility. Experts like Jesse Pollak emphasize the app's potential to transform crypto operations by expanding in-app experiences and leveraging developers' creativity.
Ethereum's Prospects Post-App Launch
According to CoinMarketCap data, Ethereum (ETH) is currently priced at $3,358.29, with a market cap of $405.39 billion. Recent performance shows a 7.20% increase in the last 24 hours, while trading volume surged by 21.82%. Coincu's research team suggests that the Base App could catalyze further adoption of Layer 2 solutions, indicating potential regulatory adjustments for such integrated systems.
The launch of Coinbase's Base App underscores significant changes in the cryptocurrency ecosystem and may serve as a catalyst for further user-centric developments.
