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Historically, most retail investors accessed obscure tokens either through on-chain exchanges or by participating in complex, wallet-based setups. These tokens, often with market caps under $100 million, were inaccessible to the mainstream — until now. Coinbase has essentially "listed everything" on Base, its layer-2 network built on Ethereum, directly within its mainstream app. Users can now buy tokens that previously required technical expertise, wallets, and on-chain trading, with a simple interface akin to traditional stock trading.