A little-known cryptocurrency has grown by more than 200% after Coinbase’s announcement

The little-known Base Protocol (BASE) cryptocurrency has grown by 275% after Coinbase announced the launch of the second-level test network Base. The exchange’s announcement had nothing to do with the BASE token, which cost $ 1.27 before the announcement and rose to $ 7.5 after the news.

Coinbase representatives have already emphasized that the BASE digital asset does not belong to the exchange. The platform does not plan to launch a new token for the second-level Base network, but will use ETH to pay commissions.

2/ Important: Base is *not* a token

We do not plan to issue a new network token for Base and will use ETH as the native gas token.

— Coinbase 🛡️ (@coinbase) February 23, 2023

According to Syncracy Capital co-founder Ryan Watkins, the launch of the network by Coinbase is a «turning point» in the evolution of the Ethereum ecosystem. BASE is expected to attract tens or even hundreds of thousands of new users to the network.

The rise in the price of BASE has once again demonstrated how unpredictable and irrational the crypto market can be. The surge in the value of a little-known token has emphasized the importance of investing in cryptocurrencies wisely and conducting appropriate research before making any investment decisions.