Coinbase has launched the Base App, a revamped version of its Coinbase Wallet, signaling a significant shift in its product approach within the Ethereum layer-2 network known as Base. This initiative places Base at the forefront of developing an all-encompassing Web3 application.
The introduction of the Base App is more than a simple rebranding; it signifies a major change in strategic direction. Drawing inspiration from comprehensive platforms like WeChat, the app unifies trading, payments, messaging, social interactions, and dApp exploration into a single interface. The aim is to attract a broader audience beyond crypto enthusiasts and bring blockchain-based experiences into the mainstream arena.
The Layer-2 network aims to create a cohesive, blockchain-centric ecosystem where users can communicate, transact, invest, and engage without the need for multiple applications or complex wallets. This development coincides with increasing demands for improved Web3 user experiences, and the company is confident that integrating services within the chain will fulfill these expectations.
Base Presents Web3 “Universal App” at LA Event
The new Base App was officially revealed at a Los Angeles conference, where the company’s vision for a blockchain-immersed future was outlined. A promotional video highlighted during the event proclaimed: “Coinbase Wallet has evolved beyond just being a wallet. It’s now your central hub to create, earn, trade, explore apps, and connect with friends in one place.”
The message was unmistakable: This is not merely an upgrade, but a complete transformation into a multifunctional Web3 platform aimed to challenge the capabilities of popular tech super apps. The video elaborated, “Transfer money. Carry your identity with you. Own your social graph. Access markets anytime. Chat with friends.”
This bold vision includes seamless integration with decentralized exchanges like Aerodrome Finance and Uniswap, facilitating effortless token trading within the app. Users can enter markets, conduct trades, and interact with DeFi protocols all within one platform.
Coinbase CEO and co-founder Brian Armstrong emphasized this new strategic direction on X, stating: “Coinbase Wallet has evolved. The Base app is your new on-chain hub for posting, earning, trading, chatting, and connecting.”
By merging DeFi, social media, identity, and communication, Base is positioning itself as a formidable contender in creating Web3’s first widely-used application. The success of this new direction hinges on attracting users beyond the crypto-native segment, but the groundwork is being established.
Coinbase (COIN) Approaches Key Resistance Level
Coinbase Global Inc. (NASDAQ: COIN) is nearing a crucial resistance point, with its stock priced at $398.20 after a 2.88% rise this week. The weekly chart indicates a robust bullish trend, driven by momentum that started in mid-May. Having surpassed previous resistance around $320, COIN is now testing the significant $400 level—an area that was a major rejection point in early 2022.
Volume has increased notably during this recent surge, indicating strong involvement from both institutional and retail investors. From a technical perspective, the 50-week moving average has risen above the 100-week, confirming medium-term bullish momentum. Additionally, the flattening of the 200-week moving average suggests a potential end to the long-term downtrend.
If there is a definitive breakout and close above $400, it could pave the way for a rise toward the $450–$475 range, with the $500 level acting as a potential target if bullish momentum continues. However, if the $400 barrier remains intact, a fallback to the $340–$360 range is plausible, especially if overall market conditions deteriorate.
Featured image from Dall-E, chart from TradingView
