Coinbase’s layer 2 blockchain launch has caused quite a stir in the crypto industry, with BASE tokens experiencing an incredible surge of over 250% in just 24 hours, following the announcement.
The BASE token’s price rose from $1.90 to over $6.80, with trading volumes surging from $46,000 daily to over $566,000 at the price peak. At the time of writing, trading volume had surged further to over $1.1 million.
BASE founders claim that it is a representation of the entire crypto-sphere
Despite its small market capitalization of just $1 million, the token’s creators say that it represents the entire crypto industry.
Its creators claim it allows traders to speculate on the crypto industry with just one token.
However, the narrative of the BASE token has yet to catch on with most crypto investors.
Ылайык Token Sniffer, a smart contract scam scanner and crypto surveillance firm, four malicious impersonation tokens have been created since Coinbase’s testnet учуруу on BuildOnBase, exploiting the hype surrounding the layer 2 network.
All the scam tokens are called BASE and are created with Ethereum and Fantom chains.
Source: https://crypto.news/coinbase-l2-blockchain-sends-base-up-by-250/