Coinbase Base Token May Unlock $34B Potential, Says JPMorgan

Investment giant JPMorgan has made a bold new prediction about Coinbase. In a report shared by Coin Bureau, the bank said that a possible token for Coinbase’s Base network could unlock between $12 billion and $34 billion in value for the company. The report shows how Coinbase could gain billions by launching a token tied to its growing blockchain network.

🚨JPMORGAN: COINBASE’S $BASE TOKEN COULD HIT $34B.

$3.9T JPMorgan says a #Base token could unlock $12–$34B in value for #Coinbase’s ecosystem. pic.twitter.com/ghm238Ycve

— Coin Bureau (@coinbureau) October 25, 2025

What Is Base?

Base is Coinbase’s own Layer-2 network built on Ethereum. It helps users and developers make faster and cheaper transactions. Since its launch in August 2023, Base has grown really fast. While many developers are now building apps and projects on it.

According to JPMorgan, a Base token could help Coinbase benefit more directly from this growth. Right now, Coinbase mostly earns from trading fees, which can rise and fall with market trends. A Base token, however, could create a steady source of income through staking, transaction fees and network rewards.

Why JPMorgan Thinks It Matters

The report suggests that if Coinbase releases a Base token, it could raise the company’s value in many ways.

First, it would allow Coinbase to “equitize” its network. This means the company could own a part of the token’s total supply, giving it a new asset that grows with network activity. JPMorgan estimated that Coinbase’s share alone could be worth $4 billion to $12 billion.

Second, a token would help the Base community to grow faster. Users could earn rewards, developers could get grants and the token could be used for governance decisions. In simple terms, a Base token could make people more involved, helping the ecosystem grow naturally.

The Challenges Ahead

While the idea sounds great, JPMorgan also warned of a lot of risks. One big issue is regulation. Coinbase is a public company, so launching a token would attract heavy attention from the SEC and other regulators. Therefore, any mistake could lead to legal trouble.

Another challenge is the token design. If the Base token has poor tokenomics or unclear utility, it could lose value quickly. A strong plan for distribution, rewards and governance is key.

The crypto market itself is another risk. Prices change fast, and investor interest can shift overnight. If market conditions get weak, the token’s value could fall before it even gains fame.

What It Means for Coinbase and Investors

If Coinbase manages to launch the Base token successfully, it could change the company’s future. It would no longer depend mainly on trading fees. Instead, it would earn ongoing income from its blockchain network.

For investors, this could mean new opportunities. JPMorgan has already upgraded Coinbase’s stock rating from Neutral to Bullish, showing confidence in its long-term growth.

For the crypto industry, it could start a new wave of exchange-backed tokens, showing how companies can combine business models with blockchain innovation.

The Road Ahead for Coinbase

JPMorgan’s forecast paints an exciting picture for Coinbase. A Base token could create up to $34 billion in value, bringing new life to both Coinbase and its ecosystem.

Still, success will depend on careful planning, regulatory approval and strong execution. If Coinbase gets it right, Base could become a core part of its business, and a major step in crypto’s move toward mainstream adoption.