Behind the Surge
There were multiple catalysts that potentially contributed to COIN’s move today, such as the passing of the GENIUS and CLARITY acts in the House yesterday, as well as reports that the U.S. administration will open up the multi-trillion dollar retirement market to crypto investments.
This week, Coinbase also launched a rebrand and upgrade of its Ethereum Layer 2 Base. The activation marks Coinbase Wallet’s pivot to the Base app — with added features pushing it toward “super app” status — and also includes Flashblocks preconfirmation blocks for Base Chain.
Coinbase CEO Brian Armstrong took to X to share the announcement where he said “After the @base event today I'm more bullish on creators and the creator economy than ever. I'll be using the app to post content often, and supporting creators with part of the earnings from my posts.”