If Base manages to execute its token launch perfectly it can restart the whole L2 sector... Here's how:
Conversations around a $BASE token are heating up again. team said they are exploring it, but there is no timeline yet. But everyone knows this was planned from the start.
Base metrics are already strong:
> $5B+ TVL, with $1.7B added just this year
> $6.2M revenue last month, highest among L2s (Arbitrum only $1.6M)
> 20M+ monthly active users, 800k+ weekly users
If the token comes today and trades at the same FDV of ARB, OP or Linea, it will trade around $4B to $7B. Solid, but still way below L1s:
> AVAX around $14B
> Hedera around $12B
> UNI, ENA, and BCH are also higher
This shows the gap. The market gives much higher value to L1s. If Base was an L1 it could easily be at $20B+ FDV. But Coinbase wants Ethereum alignment, so it stays under that cap.
Where Base looks different is the ecosystem:
> Coinbase funnel: direct link from CEX app to Base DEXs, staking, compliance edge.
> Wrappers: cbBTC already working, scope for XRP, LTC and other assets.
> Apps: Farcaster and Zora are building natively and pulling social + creator crowd.
> Wallet: simple for NFTs, memes, trading, it’s very user friendly.
> Payments: if real world volume (like remittances or Shopify plugs) arrives the revenue can explode.
But Linea shows the other side. Even with Metamask distribution and Consensys backing, it is stuck at a $3.6B FDV with weaker metrics. Base is stronger across TVL, revenue and usage.
So the challenge is clear: It’s not just launching a token, but changing how L2s are valued. If Base manages to do that, it lifts the whole L2 sector.
2025 is the year to watch. What do you think?