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?
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitcoin, ETH, XRP Price Surge as Senate Reaches Deal to End US Government Shutdown
- Five Spot XRP ETFs Set For Launch This Month Amid DTCC Listing
- Why Is Crypto Market Up Today?
- Trump Tariffs: Crypto Market Surges After $400B Dividend Announcement for Americans
- Michael Saylor Hints Bitcoin Buy As Goldman Sachs Predicts Three Fed Rate Cuts
- After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity?
- Cardano Price Soars 10% Amid Retail Accumulation: Will Bulls Target $1?
- Bitcoin Price: How Low BTC Could Fall by the End of 2025?
- Post-Giveaway Supply Shock: Impact on FUNToken’s Liquidity and Market Depth
- Aster Price Poised to Hit $2 as Coinbase Adds ASTER to Listing Roadmap
- Filecoin Price Rockets 51% as Grayscale’s FIL Holdings Hit Record High — What’s Next for FIL?
