Coinbase 的未來熠熠生輝，“加密貨幣領域的亞馬遜”，Base Layer 2 網路推動成長

Bitwise Asset Management 最近的一份報告對 Coinbase 和亞馬遜進行了比較，突顯了 Coinbase Base Layer 2 網路的重要性被低估了。該網路於 8 月在以太坊上啟動，旨在提高區塊鏈吞吐量，同時降低成本。它的採用率令人印象深刻，交易量環比增長 74%，使用它的開發人員呈指數級增長。僅在第一季度，Coinbase 就從 Base 獲得了 2,740 萬美元的交易費用，這表明它可以為 Coinbase 的未來利潤做出重大貢獻。

Bitwise Projects Stellar Future for Coinbase, Likens it to Amazon of Crypto

Bitwise 為 Coinbase 規劃了美好的未來，將其比喻為加密貨幣領域的亞馬遜

In a comprehensive report released by Bitwise, a leading crypto index fund manager, striking parallels have emerged between Coinbase and Amazon, illuminating an underappreciated facet of Coinbase's business: the Base Layer 2 network.

在領先的加密貨幣指數基金管理公司 Bitwise 發布的一份綜合報告中，Coinbase 和亞馬遜之間出現了驚人的相似之處，揭示了 Coinbase 業務中一個被低估的方面：Base Layer 2 網路。

Coinbase's Financial Performance Surges

Coinbase 的財務業績飆升

Coinbase's recent financial results have been remarkable, showcasing robust growth and operational efficiency. The company reported a staggering $1.6 billion in net revenue, a 116% year-over-year increase, far exceeding Wall Street's expectations of $1.36 billion.

Coinbase 最近的財務表現非常出色，展現了強勁的成長和營運效率。該公司公佈的淨收入達到驚人的16億美元，年增116%，遠遠超過華爾街預期的13.6億美元。

Profits were equally impressive, reaching $1.2 billion, with total cash reserves swelling to a substantial $7.1 billion. Each of Coinbase's business segments demonstrated notable growth:

利潤同樣令人印象深刻，達到 12 億美元，現金儲備總額激增至 71 億美元。 Coinbase 的各個業務部門都呈現出顯著的成長：

• Consumer trading revenue surged by 93%
• Institutional trading surged by 105%
• Stablecoin revenue increased by 15%
• Blockchain rewards increased by 59%
• Custodial services increased by 64%

Base Layer 2 Network: A Game-Changer

消費者交易收入猛增 93% 機構交易猛增 105% 穩定幣收入增加 15% 區塊鏈獎勵增加 59% 託管服務增加 64% 基礎第 2 層網絡：遊戲規則改變者

Despite these strong financial indicators, Coinbase's stock has experienced a downward trend, suggesting that the market may not fully grasp the depth of the company's strengths. However, Bitwise highlights a less conspicuous but potentially transformative element of Coinbase's portfolio: the Base Layer 2 network.

儘管有這些強勁的財務指標，Coinbase 的股價卻經歷了下跌趨勢，這表明市場可能無法完全掌握該公司的實力深度。然而，Bitwise 強調了 Coinbase 產品組合中一個不太引人注目但具有潛在變革性的元素：Base Layer 2 網路。

Launched in August and built atop Ethereum, Base aims to enhance the blockchain's throughput while reducing transaction costs. It utilizes a "bar tab" approach, aggregating transactions and settling them in batches, effectively reducing transaction costs to under $0.01 and accelerating processing times to less than one second.

Base 於 8 月推出，建立在以太坊之上，旨在提高區塊鏈的吞吐量，同時降低交易成本。它採用「bar tab」方式，聚合交易並批量結算，有效地將交易成本降低至 0.01 美元以下，並將處理時間加快至不到 1 秒。

The adoption of Base has been remarkable. In the first quarter, the network witnessed a 74% increase in transactions quarter-over-quarter, with a 40% increase in April alone compared to the entire first quarter. The exponential growth in the number of developers leveraging Base, which increased eightfold, emphasizes the network's growing influence and industry-wide interest.

Base 的採用非常引人注目。第一季度，該網路的交易量較上季成長了 74%，光是 4 月就比整個第一季成長了 40%。利用 Base 的開發者數量呈指數級增長，增加了八倍，凸顯了該網絡日益增長的影響力和全行業的興趣。

From a financial standpoint, Base has been lucrative for Coinbase. In the first quarter alone, the network generated $27.4 million in transaction fees, of which Coinbase retained $15.5 million. This high-margin revenue stream continued into April, adding an additional $11 million to Coinbase's profits. Given these trends, Bitwise anticipates that Base could soon contribute between $10 million and $20 million in monthly profits to Coinbase.

從財務角度來看，Base 對於 Coinbase 來說是有利可圖的。光是第一季度，該網路就產生了 2,740 萬美元的交易費用，其中 Coinbase 保留了 1,550 萬美元。這種高利潤收入流一直持續到 4 月份，為 Coinbase 的利潤額外增加了 1,100 萬美元。鑑於這些趨勢，Bitwise 預計 Base 很快就會為 Coinbase 貢獻 1,000 萬至 2,000 萬美元的每月利潤。

The Amazon Analogy: A Blueprint for Transformation

亞馬遜類比：轉型藍圖

The analogy with Amazon stems from Base's transformative potential. Similar to Amazon's evolution from an online bookstore to a retail behemoth and later a dominant force in cloud computing through Amazon Web Services (AWS), Coinbase could follow a similar trajectory.

與亞馬遜的類比源自於 Base 的變革潛力。類似於亞馬遜從線上書店發展成為零售巨頭，後來透過亞馬遜網路服務（AWS）成為雲端運算領域的主導力量，Coinbase 也可能遵循類似的軌跡。

This shift would enable Coinbase to transition from a crypto brokerage to a foundational infrastructure provider for the crypto industry. Such a transformation would redefine Coinbase's role and impact within the market, positioning it as a central infrastructure entity in the crypto ecosystem, much like AWS underpins numerous web services today.

這項轉變將使 Coinbase 從加密經紀公司轉型為加密產業的基礎設施提供者。這樣的轉變將重新定義 Coinbase 在市場中的角色和影響，將其定位為加密生態系統中的中央基礎設施實體，就像 AWS 如今支撐著眾多網路服務一樣。

Strategic Implications for Coinbase

對 Coinbase 的策略影響

The report concludes by reflecting on Base's significance for Coinbase's strategic direction. "[T]he early returns on Base suggest that Coinbase could end up becoming something even greater: a core infrastructure provider to the crypto ecosystem. And that would be a very big deal indeed."

報告最後反思了 Base 對 Coinbase 策略方向的重要性。 “Base 的早期回報表明 Coinbase 最終可能會變得更加偉大：加密生態系統的核心基礎設施提供者。這確實是一件非常大的事情。”

COIN Price Analysis: A Pivotal Moment

COIN 價格分析：關鍵時刻

From a technical perspective, Coinbase's stock (COIN) is currently facing a critical juncture. After dropping to $211.20, down 11.4% from a weekly high of $235.79, the stock is testing significant resistance and support levels that could determine its short-term trajectory.

從技術面來看，Coinbase的股票（COIN）目前正面臨關鍵時刻。在跌至 211.20 美元（較周高點 235.79 美元下跌 11.4%）後，該股正在測試可能決定其短期走勢的重要阻力位和支撐位。

The Fibonacci retracement tool, applied from a low of $31.62 to a high of $429.52, identifies crucial price points. Currently, COIN is facing the $230.57 level (0.5 Fibonacci level) as its primary resistance. The 20-week Exponential Moving Average (EMA) provides crucial support at $199.35, with the stock recently bouncing off this level.

斐波那契回檔工具從 31.62 美元的低點應用到 429.52 美元的高點，確定了關鍵的價格點。目前，COIN 面臨的主要阻力位在 230.57 美元（0.5 斐波那契水準）。 20 週指數移動平均線 (EMA) 在 199.35 美元提供了關鍵支撐，該股最近從該水平反彈。

The Relative Strength Index (RSI) stands at 56.10, suggesting a balance between buying and selling pressures, with a slight tilt towards buying. Recent price action, characterized by a candlestick with a small body and longer wicks, reflects the ongoing uncertainty and cautious sentiment among traders.

相對強弱指數（RSI）為56.10，顯示買入和賣出壓力之間保持平衡，略微偏向買入。最近的價格走勢以燭身較小、影線較長為特徵，反映了交易者持續的不確定性和謹慎情緒。