Coinbase Builds 'Base App' as Ethereum Activity Hits $726M High

- New all-in-one platform debuts as Ethereum scales Layer 2 adoption. - Record ETF inflows and price spikes push ETH past $3,400. On July 17, 2025, Coinbase announced the rebranding of its web3 wallet to "Base App" during its "A New Day One" event. The Base App, built on Ethereum Layer 2, acts as an all-in-one platform for the on-chain economy, supporting activities such as social networking, trading, payments, and communication. The app is currently in beta for waitlisted users and integrates several unique features to streamline web3 interactions. On July 17, The Block reported that the Base App consolidates functionalities into a single interface. Key features include a social feed powered by Farcaster, tokenized posts via Zora, and support for live trading and tipping. The platform also offers Base Account, a smart wallet for versatile crypto management, while Base Pay provides instant USDC payment capabilities and embedded mini-apps allow users to access various services directly within the platform. These updates underscore Coinbase’s objective to enhance the Ethereum Layer 2 ecosystem and onboard more users into the decentralized economy. By providing a centralized access point to decentralized tools, the Base App supports broader web3 adoption and increases engagement with blockchain-powered services. Meanwhile, broader market activities on the same day highlighted Ethereum's role in the crypto ecosystem, as SharpLink Gaming's purchase of 20,279 ETH worth $68 million contributed to a record $726.74 million in daily net inflows for Ethereum ETFs. This heightened market activity coincided with Ethereum's price crossing $3,400 to reach levels unseen since January. In addition, the U.S. House of Representatives advanced several critical crypto bills, including the GENIUS stablecoin bill, which the Senate has already passed and is now awaiting final approval into law. According to CoinMarketCap on July 17, Ethereum (ETH) was trading at $3,439.26 as of 19:08 UTC, representing a 2.9% increase in 24-hour trading.