JPMorgan: $34bn Base token, waning DEX threat, could boost Coinbase stock

A Base token could be worth as much as $34 billion, JPMorgan analysts said in a research note on Friday. A new token, along with the waning threat of decentralised exchanges and better monetisation of USDC rewards, could boost Coinbase stock 14% to $404 per share by December 2026, the analysts said. Base is a layer 2 blockchain built by Coinbase. Its $5 billion DeFi ecosystem is the sixth-largest among all blockchains and the largest among Ethereum’s layer 2 blockchains, according to DefiLlama data. Whi ...