JPMorgan analysts predict a base token from Coinbase could be valued at $34 billion, boosting the stock by 14% to $404 per share by December 2026. Coinbase’s Base blockchain, valued at $5 billion, is the sixth-largest DeFi ecosystem and the largest among Ethereum’s layer 2 blockchains.

Coinbase may introduce its own native token, potentially worth $12 billion to $34 billion. Holding 40% of the supply could mean a $4 billion to $12 billion opportunity. The company could enhance earnings by focusing on Coinbase One customers and integrating DEXes into its app.

Decentralized exchanges are seen as posing a decreasing threat to Coinbase’s earnings, with the company set to benefit from integrating DEX technology into the Base app. Monetization through sequencer fees is expected. Coinbase aims to allow trading of every crypto asset in its app, moving from one asset 13 years ago to potentially every asset onchain.

Overall, JPMorgan analysts see significant potential for growth and earnings for Coinbase, particularly through the introduction of a base token and strategic shifts in user rewards and integration of DEX technology.

Read more at Yahoo Finance: $34bn Base token, waning DEX threat, could boost Coinbase stock