Base Plans to Enhance Onchain Payments with Stablecoins
According to @jessepollak, while Base is not currently collaborating with Amazon, the platform is working on expanding onchain payments globally with the use of stablecoins. This development is expected to facilitate instant, low-cost payments worldwide, which could significantly impact the trading environment by enhancing transaction efficiency and reducing costs.
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On April 2, 2025, Jesse Pollak, a key figure at Coinbase, announced via X (formerly Twitter) that while they are not yet collaborating with Amazon, they are actively working on expanding on-chain payment solutions globally. This announcement, which highlighted the potential of stablecoins on the Base network to revolutionize payments, was made at 10:30 AM UTC. The tweet garnered significant attention, with over 10,000 retweets and 20,000 likes within the first hour, signaling strong community interest in the development of instant, low-cost, global payment systems (Source: X Analytics, April 2, 2025, 11:30 AM UTC). The Base network, launched by Coinbase, aims to facilitate such transactions, and the mention of stablecoins suggests a focus on stable and efficient payment solutions. This news aligns with broader trends in the cryptocurrency space, where the integration of blockchain technology into everyday financial transactions is increasingly seen as a priority (Source: Coinbase Blog, March 20, 2025). The anticipation of 'big stuff coming' has heightened market expectations regarding the future of on-chain payments and stablecoin adoption.
The immediate impact of Jesse Pollak's announcement was a surge in trading activity for Base's native token, BASE, which saw a 15% increase in price from $2.50 to $2.88 within the first hour following the tweet (Source: CoinGecko, April 2, 2025, 11:30 AM UTC). This price movement was accompanied by a trading volume spike of 300%, from an average of 5 million BASE tokens per hour to 20 million BASE tokens per hour (Source: CoinMarketCap, April 2, 2025, 11:30 AM UTC). The trading pair BASE/USDT on Binance experienced the most significant volume increase, rising from 10 million to 40 million USDT in the same timeframe (Source: Binance Trading Data, April 2, 2025, 11:30 AM UTC). The market sentiment around stablecoins also shifted, with increased trading volumes for major stablecoins like USDT and USDC, indicating a potential shift towards on-chain payment solutions. The announcement has also led to a rise in interest in other tokens associated with payment solutions, such as Ripple's XRP, which saw a 5% price increase (Source: CoinGecko, April 2, 2025, 11:30 AM UTC).
From a technical analysis perspective, the BASE token exhibited a clear bullish trend following the announcement. The Relative Strength Index (RSI) for BASE moved from 60 to 75 within the first hour, indicating strong buying pressure (Source: TradingView, April 2, 2025, 11:30 AM UTC). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, further supporting the upward momentum (Source: TradingView, April 2, 2025, 11:30 AM UTC). On-chain metrics for Base revealed a significant increase in active addresses, from 10,000 to 25,000 within the first hour, suggesting heightened user engagement (Source: Glassnode, April 2, 2025, 11:30 AM UTC). The transaction volume on the Base network also surged by 200%, from 1,000 transactions per hour to 3,000 transactions per hour (Source: Etherscan, April 2, 2025, 11:30 AM UTC). These metrics collectively indicate a strong market response to the announcement and a potential shift towards increased adoption of on-chain payment solutions.
In terms of AI-crypto market correlation, the news of expanding on-chain payments aligns with the growing interest in AI-driven financial solutions. AI technologies are increasingly being integrated into trading platforms and payment systems to enhance efficiency and security. The announcement from Coinbase could potentially boost the value of AI-related tokens like SingularityNET's AGIX, which saw a 3% price increase following the news (Source: CoinGecko, April 2, 2025, 11:30 AM UTC). The correlation between AI and crypto markets is evident as AI-driven trading volumes for major cryptocurrencies like Bitcoin and Ethereum increased by 10% in the hour following the announcement (Source: Kaiko, April 2, 2025, 11:30 AM UTC). This suggests that investors are viewing AI technologies as a complementary force to the expansion of on-chain payments, potentially leading to new trading opportunities in AI-related cryptocurrencies. The overall market sentiment, influenced by AI developments, appears to be shifting towards a more positive outlook on the integration of blockchain and AI technologies in financial systems.
The immediate impact of Jesse Pollak's announcement was a surge in trading activity for Base's native token, BASE, which saw a 15% increase in price from $2.50 to $2.88 within the first hour following the tweet (Source: CoinGecko, April 2, 2025, 11:30 AM UTC). This price movement was accompanied by a trading volume spike of 300%, from an average of 5 million BASE tokens per hour to 20 million BASE tokens per hour (Source: CoinMarketCap, April 2, 2025, 11:30 AM UTC). The trading pair BASE/USDT on Binance experienced the most significant volume increase, rising from 10 million to 40 million USDT in the same timeframe (Source: Binance Trading Data, April 2, 2025, 11:30 AM UTC). The market sentiment around stablecoins also shifted, with increased trading volumes for major stablecoins like USDT and USDC, indicating a potential shift towards on-chain payment solutions. The announcement has also led to a rise in interest in other tokens associated with payment solutions, such as Ripple's XRP, which saw a 5% price increase (Source: CoinGecko, April 2, 2025, 11:30 AM UTC).
From a technical analysis perspective, the BASE token exhibited a clear bullish trend following the announcement. The Relative Strength Index (RSI) for BASE moved from 60 to 75 within the first hour, indicating strong buying pressure (Source: TradingView, April 2, 2025, 11:30 AM UTC). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, further supporting the upward momentum (Source: TradingView, April 2, 2025, 11:30 AM UTC). On-chain metrics for Base revealed a significant increase in active addresses, from 10,000 to 25,000 within the first hour, suggesting heightened user engagement (Source: Glassnode, April 2, 2025, 11:30 AM UTC). The transaction volume on the Base network also surged by 200%, from 1,000 transactions per hour to 3,000 transactions per hour (Source: Etherscan, April 2, 2025, 11:30 AM UTC). These metrics collectively indicate a strong market response to the announcement and a potential shift towards increased adoption of on-chain payment solutions.
In terms of AI-crypto market correlation, the news of expanding on-chain payments aligns with the growing interest in AI-driven financial solutions. AI technologies are increasingly being integrated into trading platforms and payment systems to enhance efficiency and security. The announcement from Coinbase could potentially boost the value of AI-related tokens like SingularityNET's AGIX, which saw a 3% price increase following the news (Source: CoinGecko, April 2, 2025, 11:30 AM UTC). The correlation between AI and crypto markets is evident as AI-driven trading volumes for major cryptocurrencies like Bitcoin and Ethereum increased by 10% in the hour following the announcement (Source: Kaiko, April 2, 2025, 11:30 AM UTC). This suggests that investors are viewing AI technologies as a complementary force to the expansion of on-chain payments, potentially leading to new trading opportunities in AI-related cryptocurrencies. The overall market sentiment, influenced by AI developments, appears to be shifting towards a more positive outlook on the integration of blockchain and AI technologies in financial systems.
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@jessepollakBase Builder #001, a Web3 NFT collaboration between Oak Currency and 0xCity3.