A research report from Tiger Research, published on November 6, 2025, highlights Coinbase's deliberate acquisition strategy focused on building a comprehensive and robust ecosystem around its Base blockchain. The analysis suggests that these acquisitions are not random but are targeted at creating an interconnected system to attract and seamlessly onboard high-quality projects. The underlying thesis of the research is that these strategic moves are designed to significantly strengthen the Base ecosystem in preparation for the potential future launch of its own token. By eliminating barriers for new projects, Coinbase is aiming to maximize the valuation and utility of its ecosystem, positioning itself for long-term dominance in the blockchain space.