Coinbase 的未来熠熠生辉，“加密货币领域的亚马逊”，Base Layer 2 网络推动增长

Bitwise Asset Management 最近的一份报告对 Coinbase 和亚马逊进行了比较，突显了 Coinbase Base Layer 2 网络的重要性被低估了。该网络于 8 月在以太坊上启动，旨在提高区块链吞吐量，同时降低成本。它的采用率令人印象深刻，交易量环比增长 74%，使用它的开发人员呈指数级增长。仅第一季度，Coinbase 就从 Base 获得了 2740 万美元的交易费用，这表明它可以为 Coinbase 的未来利润做出重大贡献。

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

Bitwise 为 Coinbase 规划了美好的未来，将其比作加密货币领域的亚马逊

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.

在领先的加密货币指数基金管理公司 Bitwise 发布的一份综合报告中，Coinbase 和亚马逊之间出现了惊人的相似之处，揭示了 Coinbase 业务中一个被低估的方面：Base Layer 2 网络。

Coinbase's Financial Performance Surges

Coinbase 的财务业绩飙升

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 最近的财务业绩非常出色，展示了强劲的增长和运营效率。该公司公布的净收入达到惊人的16亿美元，同比增长116%，远远超过华尔街预期的13.6亿美元。

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:

利润同样令人印象深刻，达到 12 亿美元，现金储备总额激增至 71 亿美元。 Coinbase 的各个业务部门都呈现出显着的增长：

• 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

消费者交易收入猛增 93% 机构交易猛增 105% 稳定币收入增加 15% 区块链奖励增加 59% 托管服务增加 64% 基础第 2 层网络：游戏规则改变者

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.

尽管有这些强劲的财务指标，Coinbase 的股价却经历了下跌趋势，这表明市场可能无法完全掌握该公司的实力深度。然而，Bitwise 强调了 Coinbase 产品组合中一个不太引人注目但具有潜在变革性的元素：Base Layer 2 网络。

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 于 8 月推出，建立在以太坊之上，旨在提高区块链的吞吐量，同时降低交易成本。它采用“bar tab”方式，聚合交易并批量结算，有效地将交易成本降低至 0.01 美元以下，并将处理时间加快至不到 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 的采用非常引人注目。第一季度，该网络的交易量环比增长了 74%，仅 4 月份就比整个第一季度增长了 40%。利用 Base 的开发者数量呈指数级增长，增加了八倍，凸显了该网络日益增长的影响力和全行业的兴趣。

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.

从财务角度来看，Base 对于 Coinbase 来说是有利可图的。仅第一季度，该网络就产生了 2740 万美元的交易费用，其中 Coinbase 保留了 1550 万美元。这种高利润收入流一直持续到 4 月份，为 Coinbase 的利润额外增加了 1100 万美元。鉴于这些趋势，Bitwise 预计 Base 很快就会为 Coinbase 贡献 1000 万至 2000 万美元的月利润。

The Amazon Analogy: A Blueprint for Transformation

亚马逊类比：转型蓝图

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.

与亚马逊的类比源于 Base 的变革潜力。类似于亚马逊从在线书店发展成为零售巨头，后来通过亚马逊网络服务（AWS）成为云计算领域的主导力量，Coinbase 也可能遵循类似的轨迹。

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.

这一转变将使 Coinbase 从加密经纪公司转型为加密行业的基础设施提供商。这样的转变将重新定义 Coinbase 在市场中的角色和影响，将其定位为加密生态系统中的中央基础设施实体，就像 AWS 如今支撑着众多网络服务一样。

Strategic Implications for Coinbase

对 Coinbase 的战略影响

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."

报告最后反思了 Base 对 Coinbase 战略方向的重要性。 “Base 的早期回报表明 Coinbase 最终可能会变得更加伟大：加密生态系统的核心基础设施提供商。这确实是一件非常大的事情。”

COIN Price Analysis: A Pivotal Moment

COIN 价格分析：关键时刻

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.

从技术角度来看，Coinbase的股票（COIN）目前正面临关键时刻。在跌至 211.20 美元（较周高点 235.79 美元下跌 11.4%）后，该股正在测试可能决定其短期走势的重要阻力位和支撑位。

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.

斐波那契回调工具从 31.62 美元的低点应用到 429.52 美元的高点，确定了关键的价格点。目前，COIN 面临的主要阻力位为 230.57 美元（0.5 斐波那契水平）。 20 周指数移动平均线 (EMA) 在 199.35 美元提供了关键支撑，该股最近从该水平反弹。

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.

相对强弱指数（RSI）为56.10，表明买入和卖出压力之间保持平衡，略微偏向买入。最近的价格走势以烛身较小、影线较长为特征，反映了交易者持续的不确定性和谨慎情绪。