Coinbase’s tokenized U.S. equities on Base grew from roughly $0.4 million to $6.5 million in market capitalization over two weeks, while Base DeFi venues held $960,300 of the tokens, including $943,200, or about 98.2%, on Uniswap. The remaining $17,100 was distributed across other protocols. The tokens, launched August 24 for eligible non-U.S. users, represent beneficial interests in 1:1-backed shares of Nvidia, Apple, Meta and Alphabet, can trade around the clock, and support DeFi integrations. About $4.5 million was minted at launch, with approximately $3 million to $3.06 million in DEX liquidity and $10.8 million in 24-hour trading volume. The much smaller DeFi balance suggests many minted tokens remain in wallets rather than deployed in protocols. Prediction markets raised the probability that Base will launch a native token by December 31, 2026, to 13% from 6% a week earlier, although that pricing reflects market expectations rather than a Coinbase announcement.