Coinbase Layer 2 Blockchain Launch Powers Optimism ($OP) Token, Here’s Why
Coinbase Optimism Partnership: Cryptocurrency exchange Coinbase on Thursday unveiled Base — a testnet version of its newly developed Ethereum Layer 2 network. This marks Coinbase’s official entry into the layer 2 space, which offers faster and cheaper blockchain solution. The crypto exchange aims to make it easy for developers to build apps and link to Coinbase Global products. The Coinbase layer 2 Base runs on OP Stack, a layer 2 network solution developed by Optimism ($OP) network.
Also Read: US Fed Warns Banks Of Crypto Related Liquidity Risks
The Coinbase layer 2 launch news led to significant rise in buying interest for Optimism ($OP) token. Coinbase will be a sequencer for Base transactions, but will eventually have a fully permission less validator set. As Coinbase’s native blockchain, Base will be hosting many of the exchange’s products.
Optimism ($OP) Rallies On Base Launch
A layer-two blockchain on Ethereum network, Optimism’s native token OP took a jump immediately after the official Base announcement. With a current market cap of $680 million, the Optimism token is ranked 75 among all cryptocurrencies based on market size. At $2.88, the Optimism token price is currently not too far away from its all time high of $3.11. Read More to know about other layer 2 blockchains..
Also Read: FTX Founder Hit With 4 New Charges; Can Sam Bankman-Fried Make A Comeback?
- Breaking: U.S. PCE Inflation Rises To 2.7% YoY, Bitcoin Bounces
- Breaking: $10 Trillion Vanguard Plans to Offer Crypto ETFs to Brokerage Clients
- BlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC Yield
- Best 10 Crypto Cards for 2025
- Expert Projects HYPE Token Upside as Bitwise Files for Hyperliquid ETF With SEC
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
