Coinbase’s Base Chain Reaches Major Decentralization Milestone
Coinbase’s layer-2 network, Base, has achieved Phase 1 decentralized status, marking a significant step in its evolution as a leading Ethereum-aligned L2 chain. This milestone, announced by Ethereum Foundation co-director Hsiao-Wei Wang, highlights Base’s growing adoption and its focus on tokenization expansion within the crypto ecosystem.
Coinbase’s Base Chain Achieves Phase 1 Decentralized Status
Coinbase’s layer-2 network Base has been granted Phase 1 decentralized status, a milestone announced by Hsiao-Wei Wang, co-director of the Ethereum Foundation. The recognition underscores Base’s growing role as one of the most widely used L2 chains linked to Ethereum, with a focus on expanding tokenization activity.
The designation reflects Base’s progress in decentralization, a critical metric for Ethereum-aligned networks. Despite its reputation for speed and scalability, Base had previously not been classified among Ethereum’s decentralized L2s. The Phase 1 achievement places it alongside other optimistic rollup chains like Arbitrum, Optimism, and Unichain.
Wang’s social media post highlighted the broader significance: "It’s a good day to see Ethereum L2s becoming more secure, more open, and held to higher standards for users." The development signals maturation for Base as it strengthens Ethereum’s ecosystem infrastructure.
Uniswap Whales Move 19M UNI to Coinbase Prime Amid Price Volatility
Uniswap (UNI) faces potential sell pressure as whales transfer 19.21 million tokens to Coinbase Prime over six days. A dormant wallet linked to the project moved 9 million UNI, signaling possible distribution activity. The token gained 1% to $5.35 despite trading below all key moving averages.
Technical analysis suggests a falling wedge breakout could propel UNI 52% to $7.84, though weak momentum indicators pose challenges. The transfers coincide with Uniswap maintaining its position as the second-largest DEX by volume, highlighting the tension between institutional movements and retail trading activity.
