Base Ecosystem Rallies After Coinbase Lists TOSHI

Memecoins on Base, Coinbase’s Ethereum Layer 2, are on the move after Coinbase listed TOSHI, one of the largest memecoins on the chain.

Coinbase announced the imminent spot listing of TOSHI, a $70 million market capitalization token on Jan. 14, just 24 hours after it announced the listing of PNUT, a $650 million token.

As a result, TOSHI is up 140% to a $140 million market capitalization over the last 24 hours, and other top Base memes such as MIGGLES and KEYCAT are both up more than 45%l.

The listing is welcomed by the Base community, who previously voiced concerns over the lack of Coinbase spot listings despite the centralized exchange’s (CEX) involvement with the chain’s ecosystem. Byzantine General, an anonymous trader mentioned on social media “CB started listing Base memes, this is pretty significant IMO.”

With Coinbase’s first Base ecosystem token listing, eyes are turned towards other tokens on the chain such as Virtuals, a $4 billion AI agent launchpad protocol that is native to Base. AIXBT, the Virtual Protocol’s flagship agent, is also a highly speculated candidate for future listing with its $800 million valuation. Both VIRTUAL and AIXBT are up 30% over the last 24 hours.

AERO, the native token for Aerodrome Finance had a relatively muted reaction to the listing compared to other Base ecosystem leaders. AERO is up 11% on the day to a $950 million market capitalization.