Doc 🧑🏽‍💻

Is it even a prediction anymore…

$BASECAT is sitting around a $14M market cap right now after trading near $79M at the highs earlier this month down more than 80% from ATH on the surface that looks brutal but i think the more interesting part is what is happening around it because while $BASECAT has been cooling off, @coinbase and @base have been aggressively expanding the actual ecosystem underneath it Coinbase’s strategy is becoming the “Everything Exchange” crypto, stocks, tokenized stocks, perpetuals, prediction markets, payments, stablecoins, lending and even IPO access are increasingly being brought under the same ecosystem Base has been even more direct about where they’re going their 2026 strategy is centered around 3 things: global markets payments + stablecoins and becoming the home for builders Base wants equities, commodities, predictions, perpetuals, spot markets and eventually basically every major asset class available onchain and this isn’t just a roadmap anymore tokenized stocks issued by Coinbase are already live natively on Base Base is building toward sub-second settlement and sub-cent transactions they’re working on privacy primitives, stablecoin gas payments, smart accounts, deeper stablecoin liquidity and infrastructure specifically designed for markets AI is becoming another major part of the strategy too Base MCP already lets AI agents swap, transfer funds, check portfolios and interact with protocols like Aerodrome, Uniswap, Morpho, Moonwell and Avantis Coinbase reported that more than 90% of agentic stablecoin transaction volume in Q2 ran on Base then you have the consumer side @cobie took over leadership of the wallet/app product while @jessepolak shifted more of his attention back toward Base infrastructure the strategy changed less emphasis on trying to force Base into being a social network more emphasis on making the wallet a place where people can actually trade everything Coinbase has since moved the Base App branding back toward Coinbase Wallet while expanding the product into a multichain trading hub and that distinction is important the app becoming multichain doesn’t mean Base disappears Base itself is being positioned as infrastructure for markets, payments, stablecoins and AI agents meanwhile Coinbase keeps expanding distribution retail IPO access tokenized equities equity options coming direct deposit Coinbase Advisor Coinbase One Card expanded derivatives internationally upgraded business payments stablecoin infrastructure with Citi and more assets + markets being pulled onchain that is the part of the $BASECAT thesis i think people are overlooking $BASECAT doesn’t need Coinbase to build specifically for BASECAT it needs Coinbase and Base to keep making the ecosystem around it larger because BASECAT is already sitting directly inside that ecosystem as one of its recognizable native memes right now it’s around $14M with roughly 28.6K holders and about $3M in 24h volume and Coinbase itself now lists $BASECAT for spot trading so the question for me isn’t whether the chart looks pretty today it doesn’t the question is what happens if Base succeeds in bringing significantly more traders, assets, liquidity, businesses and users onchain while $BASECAT survives the drawdown and keeps building its identity that’s the asymmetric part of the setup Base is trying to become infrastructure for an enormous onchain economy Coinbase is trying to become the Everything Exchange Cobie is pushing the consumer product harder toward trading Jesse is focused on making Base better infrastructure for markets, payments and agents and Brian Armstrong is publicly positioning Coinbase around moving broader financial services onchain meanwhile $BASECAT is sitting more than 80% below its September high i’m looking at the amount of infrastructure being built around it and asking whether the market is pricing in what Base could look like if even part of this roadmap works So bullish on $BASECAT