There's no denying that the crypto market downturn last year and the ensuing crypto winter have taken a huge toll on Coinbase Global (NASDAQ: COIN), which is down significantly from its 52-week high of $206.79. 

Although Coinbase reported better-than-expected quarterly revenue and earnings in February, the underlying metrics look bleak: Transaction volume is down, monthly active users are down, and there is no clear signal yet that retail investors are ready to return to the Coinbase platform.

That's why I'm excited about the latest innovation from Coinbase: the launch of a new Layer 2 scaling solution for Ethereum (CRYPTO: ETH) called Base. This could be a way to change the narrative around Coinbase and convince investors to rethink the company's growth prospects.

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Source Fool.com