Coinbase’s Base team recently launched two tokens, which initially caused chaos in the cryptocurrency market. The first token experienced a staggering 962% price spike, rising from $0.0016 to $0.017, before rapidly crashing, leading to allegations of it being a scam. A warning was issued by crypto wallet Rabby, labeling the first Base token as a scam. However, by Thursday morning, its price began to recover, reaching $0.011 with a market cap of approximately $11.5 million. The second token, Base @ FarCon 2025, also had a market cap of around $240,000. Both tokens were launched through the social crypto platform Zora, embodying Base’s vision that everything can be tokenized. Jesse Pollack, a creator at Base, emphasized that content coins differ from regular tokens, stating that their value lies in their representation of a specific piece of content. Despite the initial turbulence, Pollack assured users that these tokens are not official network tokens for Base or Coinbase and reaffirmed their commitment to innovative content sharing on the blockchain.

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