$Coinbase Global, Inc.(COIN)$
From August 2023, when Base launched, to February 2024, Base generated roughly $6.5 million in profits. Not bad, but considering that Coinbase's quarterly income hovered around $90 million last year, the profits from Base were but a small drop in the bucket.
However, things changed significantly in the last two months. Since the beginning of March, Base has produced nearly $35 million in profits as users flocked to the blockchain in the wake of Ethereum's Dencun upgrade, which lowered fees on blockchains like Base.
If it were to keep its current pace, Base could produce somewhere around $200 million on an annual basis. When considering that Coinbase posted a net income of $95 million in 2023, Base's potential becomes all the more compelling…
And I think this articles estimations are on the conservative side. I’ve been around for two past bull cycles and I don’t think they understand the way things grow exponentially in a massive bull when we see max euphoria and FOMO in every direction. Just saying so if you like money add to your bags on dips. Not financial advice of course 😉
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