Coinbase is gearing up to launch a new cryptocurrency on its Base network, potentially adding $34 billion in equity value. J.P. Morgan’s analysts are bullish, raising their price target on Coinbase stock. Partnerships with Citigroup and Apollo Global hint at a Base token launch, aiming to drive decentralization and support development initiatives.

J.P. Morgan sees a Base token as a way for Coinbase to monetize its Layer-2 network and capitalize on stablecoin demand. Analysts estimate a Base token could unlock $34 billion in equity valuation for Coinbase. Signs from officials and recent partnerships suggest a Base token may launch soon, potentially boosting Coinbase stock.

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Read more at Nasdaq: Here’s Everything Investors Need to Know About Coinbase’s Base Token