Coinbase launches Base App | Chat, Trade, Earn, and Connect Onchain

Coinbase launches Base App Merges Chat, Payments, and Onchain Identity

Rebranding its Wallet as a "everything app"  Coinbase launches Base App that integrates messaging, payments, trading, social networking, and mini-apps. The business refers to this as a new chapter for its ecosystem. Coinbase launches Base App will allow users to discover onchain apps, earn, mint, and connect, all from the same location. The platform will be the home of the next-generation of users onchain.

Source: X

Coinbase launches Base App, which was revealed at company's "A New Day One" event, recasts as a three-part platform:

• Coinbase launches Base App, which acts as a consumer gateway to onchain services;

• The set of tools and support for developers called BaseBuild;

• The current Ethereum Layer 2 network BaseChain.

Source: X

The company's CEO stated on X that “he will be using the app to post content often, and supporting creators with part of the earnings from his posts”. He also thinks that  is bullish on creators and plans to support them with earnings.

Coinbase launches Base App where Social Meets Finance: Onchain Content, Chat, and Payments

• Offers seamless onchain experience for USD Coin payments and social engagement.

• Provides a platform for post, chat, money transfers, trade, and earning.

• Social features powered by Farcaster for creators' content publishing, income generation, and identity management.

USDC-Driven Economy: Fast, Frictionless Transactions

• Shopify Launched BaseAccount and Pay

• Users receive a smart wallet, BaseAccount, across apps and chains.

• BasePay, a checkout service, enables near-instant USDC transactions.

• Merchants activate BasePay starting Wednesday.

• U.S. consumers eligible for 1% cash back later this year.

• BaseApp rewards are not available in the EU or Canada.

Company Waives Fees to Boost Onchain App Adoption

It now aims to take advantage of a chance to settle payments on the platform network that extends beyond payments and trading. Coinbase launches Base App highlighting the potential for a new economic model with the start of the everything app, one that may provide content producers with more control over their identity and data as well as more direct and varied income choices for their work.

The company is working to increase the number of users on the chain by waiving USDC transaction costs within app chats and funding creator rewards. It is not anticipated to immediately produce a large amount of money.

Price Surges to $405 as Market Cap Tops $101B After Coinbase launches Base App

Source: Yahoo finance

Coinbase has set new highs for closing market cap and all-time highs in crypto prices . The company’s global exchange reached a record high of $405.88 on Wednesday, with a peak closing price of $398.20, up 2.6% on the day and 6.5% over the last week.

The intraday market cap of $101.42 billion is also a record close for it, which trades on the Nasdaq and is part of the S&P 500. This move comes after Coinbase launches Base App amid a surge in stock prices.

Ark Invest Sells $13M Coin Amid Price Rally

Ark Invest, led by CEO Cathie Wood, offloaded 34,207 shares of Coin, valued at over $13 million, on July 15. This move has sparked speculation about the reason behind the selloff. However, it is not the first time Ark Invest has offloaded shares. On July 10, the company dumped 16,627 shares of coin, valued at around $6.5 million. Many consider this a strategic move to diversify its portfolio. Additionally, the firm offloaded 225,742 shares of its own Ark 21Shares Bitcoin ETF (ARKB) on July 15, as both COIN and ARKB reached record highs in the prior session.

Acquires Opyn Team to Expand Derivatives

Recently to improve its derivatives portfolio, the biggest cryptocurrency exchange in America has brought on board the core leadership group of Opyn, a decentralized options trading platform. Additionally, the company collaborated with Perplexity AI , a search engine company driven by artificial intelligence, to offer a real-time cryptocurrency data service.