As a seasoned researcher with over two decades of experience in the financial markets, I must admit that the surge in Coinbase stock price and the rise of the Base L2 network has piqued my interest. Having witnessed the dot-com bubble and the 2008 financial crisis, I’ve learned to read between the lines when it comes to market trends.
In the past 24 hours, the share price of Coinbase (NASDAQ:COIN) increased by 2.2%, reaching $158.46. A significant portion of Coinbase’s success can be attributed to its Layer-Two solution network, Base, which has consistently led in the L2 market, demonstrating its role as a trailblazer in technological innovation within this sector.
Given the strong performance of COIN and the increasing interest in Base L2, many investors are eagerly buying these three cryptocurrencies, placing them among the best options for investment in the crypto market.
Why is Coinbase Stock Price Surging?
The surge in Coinbase’s share price recently, even after a few sluggish days earlier, is largely due to factors such as strong financial results, smart income stream expansion, and progress in regulatory understanding.
In Q2, the company reported $1.4 billion in revenue and $36 million in net income, with consistent positive adjusted EBITDA for six quarters. This strong financial showing is complemented by a strengthened balance sheet, now at $7.8 billion.
Additionally, advancements in regulatory understanding and increased backing for cryptocurrency regulations are considered substantial advantages for the sector. Innovative products, such as improved trading tools and an increase in transactions on their Layer 2 platform, also add to a positive perspective, increasing investor trust and raising the company’s stock value.
Bullish Coins Amid Coinbase Stock Price Rise
As the price of Coinbase shares keeps climbing, investors are keeping a close eye on tokens that might experience significant growth. Some of these coins are:
- Brett
- Degen
- Toshi
1. Brett (BRETT)
On the Base L2 network, Brett stands out as the biggest meme token. Known as ‘Pepe’s Companion,’ this coin has been performing exceptionally well lately, with a growth of 11.9% over the past week.
Brett has a market cap of $769 million, and after a week of surging, the asset was retraced by 0.7% over the last 24 hours. Analysis shows BRETT still has more upside potential.
As a researcher studying market trends, I’ve noticed an intriguing development in the BRETT daily price chart. It appears to be shaping up as a potential ‘cup and handle’ pattern, which could extend into a bullish ‘pennant.’ If this pattern unfolds as anticipated, it could lead to a significant 98% increase in BRETT’s price. Given this promising outlook, investing in BRETT seems like a prudent choice for those seeking a relatively secure cryptocurrency. Meanwhile, the performance of Coinbase stock continues to impress.
2. Degen (Base) (DEGEN)
On the Base blockchain, there’s a new coin named Degen (Base), which has sparked interest among investors. According to L2 Beat, Base appears to be surpassing other layer-2 networks in terms of performance.
Furthermore, disregarding the stablecoin transactions within Aerodrome’s primary DeFi protocol (Base), it appears that meme coin-related trading pools dominate the leading market.
DEGEN is one of the most popular coins on the network but has a tiny market cap of $51 million. The price of DEGEN has suffered a great correction, dropping 32% in the last month. Still, the asset is up over 1300X since alltime low less than a year ago. Investors can take advantage of this one since its 95% from its all time high, and with Ethereum surge, associated L2 networks will surge.
3. Toshi (TOSHI)
Currently, Toshi stands as one of the highly favored coins within the Base L2 infrastructure. Despite a drop of 87% from its peak value, the worth of Toshi remains over 5200 times its original price. At present, the price of Toshi is hovering within a holding pattern and has recently rebounded from the lower boundary of this range.
It’s quite possible that the value of TOSHI may jump by approximately 68% to reach around 0.000016 USD. With a market capitalization of $41 million, TOSHI could become a significant player, particularly if the price of Coinbase stock rises.
Being close to Coinbase, Base L2 has become an attractive platform for both short-term and long-term investors due to its profitability. The rise in COIN’s value has boosted the entire ecosystem of Base L2. As one of the top cryptocurrency exchanges, the performance of Coinbase’s stock price provides a good indicator of the overall health of the industry.
Watch Out This Coins as Coinbase Stock Price
With Coinbase’s stock price increasing by 2.2% to $158.46, there’s growing interest in three cryptocurrencies – Brett (BRETT), Degen (DEGEN), and Toshi (TOSHI) – on the Base L2 network. Brett appears promising with a potential 98% increase due to its bullish trend, while Degen is seen as ready for recovery after experiencing substantial declines. Lastly, Toshi might see a jump of 68% from its current value. This surge in Coinbase’s stock could have a positive effect on the Base L2 ecosystem, making these coins appealing to investors with a bullish outlook.
Read More
- ENA PREDICTION. ENA cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD ZAR PREDICTION
- WIF PREDICTION. WIF cryptocurrency
- BETA PREDICTION. BETA cryptocurrency
- HYDRA/USD
- MYRIA PREDICTION. MYRIA cryptocurrency
2024-09-11 12:54