Coinbase Blockchain Launch Sends Unrelated BASE Token Surging 200%, Leaves Traders Confused

Coinbase Global Inc. (NASDAQ: COIN) on Thursday launched its new blockchain, Base, and a few new crypto tokens that play on the name have suddenly spiked, even though they have no connection to the new network.   What Happened: BASE, a token of the decentralized project Base Protocol that has nothing to do with Coinbase, saw its price increase by more than 200%, according to crypto price tracker CoinGecko.