• bitcoinBitcoin (BTC) $ 109,361.00
  • ethereumEthereum (ETH) $ 3,824.97
  • tetherTether (USDT) $ 0.999925
  • bnbBNB (BNB) $ 1,100.52
  • xrpXRP (XRP) $ 2.48
  • usd-coinUSDC (USDC) $ 0.999799
  • staked-etherLido Staked Ether (STETH) $ 3,825.91
  • dogecoinDogecoin (DOGE) $ 0.184301
  • tronTRON (TRX) $ 0.294908
  • cardanoCardano (ADA) $ 0.610734
  • wrapped-stethWrapped stETH (WSTETH) $ 4,664.28
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 109,476.00
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 4,139.53
  • chainlinkChainlink (LINK) $ 17.19
  • hyperliquidHyperliquid (HYPE) $ 43.91
  • bitcoin-cashBitcoin Cash (BCH) $ 556.46
  • wrapped-eethWrapped eETH (WEETH) $ 4,135.95
  • stellarStellar (XLM) $ 0.300832
  • ethena-usdeEthena USDe (USDE) $ 0.998634
  • usdsUSDS (USDS) $ 0.999715
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • leo-tokenLEO Token (LEO) $ 9.61
  • suiSui (SUI) $ 2.33
  • wethWETH (WETH) $ 3,829.55
  • hedera-hashgraphHedera (HBAR) $ 0.191996
  • avalanche-2Avalanche (AVAX) $ 18.26
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 109,470.00
  • litecoinLitecoin (LTC) $ 94.29
  • whitebitWhiteBIT Coin (WBT) $ 44.21
  • zcashZcash (ZEC) $ 385.11
  • moneroMonero (XMR) $ 323.19
  • usdt0USDT0 (USDT0) $ 0.999924
  • shiba-inuShiba Inu (SHIB) $ 0.000010
  • the-open-networkToncoin (TON) $ 2.14
  • crypto-com-chainCronos (CRO) $ 0.145875
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.20
  • mantleMantle (MNT) $ 1.45
  • daiDai (DAI) $ 0.999283
  • polkadotPolkadot (DOT) $ 2.89
  • memecoreMemeCore (M) $ 2.51
  • bittensorBittensor (TAO) $ 435.66
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.136407
  • susdssUSDS (SUSDS) $ 1.08
  • uniswapUniswap (UNI) $ 5.87
  • aaveAave (AAVE) $ 217.16
  • bitget-tokenBitget Token (BGB) $ 4.49
  • figure-helocFigure Heloc (FIGR_HELOC) $ 0.234034
  • okbOKB (OKB) $ 145.30
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • paypal-usdPayPal USD (PYUSD) $ 0.999814
  • ethenaEthena (ENA) $ 0.395622
  • pepePepe (PEPE) $ 0.000007
  • nearNEAR Protocol (NEAR) $ 2.10
  • jito-staked-solJito Staked SOL (JITOSOL) $ 229.62
  • ethereum-classicEthereum Classic (ETC) $ 15.66
  • solanaWrapped SOL (SOL) $ 185.23
  • aptosAptos (APT) $ 3.24
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,834.70
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.40
  • ondo-financeOndo (ONDO) $ 0.687857
  • falcon-financeFalcon USD (USDF) $ 0.995409
  • tether-goldTether Gold (XAUT) $ 4,028.29
  • pi-networkPi Network (PI) $ 0.241315
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.186480
  • aster-2Aster (ASTER) $ 0.946235
  • usdtbUSDtb (USDTB) $ 0.999456
  • worldcoin-wldWorldcoin (WLD) $ 0.799084
  • kucoin-sharesKuCoin (KCS) $ 13.27
  • htx-daoHTX DAO (HTX) $ 0.000002
  • rocket-pool-ethRocket Pool ETH (RETH) $ 4,399.67
  • binance-staked-solBinance Staked SOL (BNSOL) $ 200.02
  • official-trumpOfficial Trump (TRUMP) $ 8.05
  • arbitrumArbitrum (ARB) $ 0.291747
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 44.19
  • internet-computerInternet Computer (ICP) $ 2.90
  • gatechain-tokenGate (GT) $ 13.27
  • algorandAlgorand (ALGO) $ 0.175067
  • pump-funPump.fun (PUMP) $ 0.004298
  • hash-2Provenance Blockchain (HASH) $ 0.029181
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 4,051.14
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,044.13
  • kaspaKaspa (KAS) $ 0.053785
  • cosmosCosmos Hub (ATOM) $ 2.99
  • story-2Story (IP) $ 4.39
  • syrupusdtsyrupUSDT (SYRUPUSDT) $ 1.10
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 4,120.33
  • wbnbWrapped BNB (WBNB) $ 1,100.99
  • vechainVeChain (VET) $ 0.015796
  • syrupusdcsyrupUSDC (SYRUPUSDC) $ 1.13
  • pax-goldPAX Gold (PAXG) $ 4,026.14
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 109,669.00
  • skySky (SKY) $ 0.056656
  • bfusdBFUSD (BFUSD) $ 0.999488
  • jupiter-exchange-solanaJupiter (JUP) $ 0.399931
  • flare-networksFlare (FLR) $ 0.016161
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 4,072.11
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.018600
  • quant-networkQuant (QNT) $ 80.62
  • render-tokenRender (RENDER) $ 2.24
  • sei-networkSei (SEI) $ 0.186061
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 109,336.00
  • nexoNEXO (NEXO) $ 1.10
  • filecoinFilecoin (FIL) $ 1.51
  • xdce-crowd-saleXDC Network (XDC) $ 0.059374
  • bonkBonk (BONK) $ 0.000014
  • morphoMorpho (MORPHO) $ 1.99
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999640
  • global-dollarGlobal Dollar (USDG) $ 0.999738
  • aerodrome-financeAerodrome Finance (AERO) $ 1.08
  • immutable-xImmutable (IMX) $ 0.491103
  • mantle-staked-etherMantle Staked Ether (METH) $ 4,125.13
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 212.70
  • ripple-usdRipple USD (RLUSD) $ 1.00
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.34
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 109,568.00
  • fasttokenFasttoken (FTN) $ 1.96
  • clbtcclBTC (CLBTC) $ 110,742.00
  • spx6900SPX6900 (SPX) $ 0.904965
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.43
  • hashnote-usycCircle USYC (USYC) $ 1.10
  • ousgOUSG (OUSG) $ 113.12
  • msolMarinade Staked SOL (MSOL) $ 247.22
  • lido-daoLido DAO (LDO) $ 0.851617
  • injective-protocolInjective (INJ) $ 7.75
  • celestiaCelestia (TIA) $ 0.910431
  • optimismOptimism (OP) $ 0.398164
  • blockstackStacks (STX) $ 0.409061
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.87
  • curve-dao-tokenCurve DAO (CRV) $ 0.488943
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998578
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.10
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,827.86
  • ether-fi-liquid-ethEther.Fi Liquid ETH (LIQUIDETH) $ 4,061.08
  • flokiFLOKI (FLOKI) $ 0.000069
  • doublezeroDoubleZero (2Z) $ 0.188706
  • tbtctBTC (TBTC) $ 109,311.00
  • the-graphThe Graph (GRT) $ 0.061271
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.239042
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 3,832.39
  • tezosTezos (XTZ) $ 0.568218
  • kaiaKaia (KAIA) $ 0.102685
  • beldexBeldex (BDX) $ 0.080107
  • dashDash (DASH) $ 47.63
  • stader-ethxStader ETHx (ETHX) $ 4,111.54
  • pyth-networkPyth Network (PYTH) $ 0.102447
  • gtethGTETH (GTETH) $ 3,830.97
  • usdaiUSDai (USDAI) $ 1.01
  • bridged-usdc-polygon-pos-bridgePolygon Bridged USDC (Polygon PoS) (USDC.E) $ 0.999799
  • iotaIOTA (IOTA) $ 0.137608
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999903
  • plasmaPlasma (XPL) $ 0.293518
  • usual-usdUsual USD (USD0) $ 0.998187
  • newton-projectAB (AB) $ 0.006309
  • sonic-3Sonic (S) $ 0.139156
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 4,210.71
  • conflux-tokenConflux (CFX) $ 0.101282
  • ether-fiEther.fi (ETHFI) $ 0.922372
  • pendlePendle (PENDLE) $ 3.07
  • swethSwell Ethereum (SWETH) $ 4,221.97
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 109,514.00
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.22
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.994048
  • dogwifcoindogwifhat (WIF) $ 0.499387
  • humanityHumanity (H) $ 0.272150
  • true-usdTrueUSD (TUSD) $ 0.996554
  • wrapped-hypeWrapped HYPE (WHYPE) $ 44.06
  • the-sandboxThe Sandbox (SAND) $ 0.199574
  • jasmycoinJasmyCoin (JASMY) $ 0.010069
  • ethereum-name-serviceEthereum Name Service (ENS) $ 14.70
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  • syrupMaple Finance (SYRUP) $ 0.429891
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.184794
  • astherus-staked-bnbAster Staked BNB (ASBNB) $ 1,162.62
  • starknetStarknet (STRK) $ 0.108605
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  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,827.16
  • heliumHelium (HNT) $ 2.44
  • raydiumRaydium (RAY) $ 1.66
  • arbitrum-bridged-wrapped-eethArbitrum Bridged Wrapped eETH (Arbitrum) (WEETH) $ 4,134.97
  • bitcoin-svBitcoin SV (BSV) $ 21.98
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  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 4,109.96
  • kinetiq-earn-vaultKinetiq Earn Vault (VKHYPE) $ 44.34
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 0.922186
  • usdbUSDB (USDB) $ 0.989213
  • cognifyCognify (SN115) $ 1,762.47
  • apenftAINFT (NFT) $ 0.00000040
  • myx-financeMYX Finance (MYX) $ 2.10
DeFi

Coinbase’s cbBTC Launches on Solana DeFi, Targeting Bitcoin Gap Left by FTX

By admin
0 74

Coinbase’s cbBTC Launches on Solana DeFi, Targeting Bitcoin Gap Left by FTX

Nearly two years after FTX’s collapse impacted Solana’s decentralized finance (DeFi) sector, Coinbase is attempting to reintroduce bitcoin-based trading to the Solana blockchain with its new token, cbBTC.

Launched recently, cbBTC is a bitcoin-backed token that users can transfer between their Coinbase accounts and Solana wallets, allowing easier bitcoin transactions within Solana’s DeFi ecosystem.

Solana DeFi Eyes cbBTC as Bitcoin Solution

Solana’s DeFi sector has lacked a reliable bitcoin token since FTX’s downfall in November 2022, which rendered soBTC—widely used on Solana—unavailable.

This absence created a disadvantage for Solana compared to Ethereum, which offers multiple options for bitcoin-backed tokens in its DeFi landscape. Coinbase’s cbBTC aims to fill this gap, with contributors across Solana-based platforms expressing optimism that the token could become the go-to bitcoin substitute on Solana.

Bitcoin ? Solana@Coinbase has officially launched cbBTC on Solana — bringing more of Bitcoin’s value to Solana’s thriving DeFi ecosystem. pic.twitter.com/VKbPJc5s73

— Solana (@solana) November 7, 2024

One notable Solana contributor said there is “much higher hope” for cbBTC’s success, especially as bitcoin prices surge.

Coinbase’s move to issue cbBTC directly on Solana could also reduce risk, according to InfraRay, a contributor at Solana-based decentralized exchange Raydium. InfraRay explained that cbBTC might increase BTC liquidity on Solana, benefiting multiple DeFi protocols if it gains traction.

BREAKING: @coinbase LAUNCHES $CBBTC, SPL TOKEN BACKED 1:1 BY $BTC, ON SOLANA pic.twitter.com/QoMuFW6fCP

— DEGEN NEWS (@DegenerateNews) November 7, 2024

Coinbase Expands Bitcoin DeFi Access

The cbBTC rollout includes $10 million in tokens ready for Solana DeFi, with approximately $500,000 already circulating in trading pools on platforms like Meteora, Orca, and Kamino. Marius Ciubotariu, co-founder of Kamino, expressed optimism, suggesting that Solana could emerge as an alternative to Ethereum for bitcoin-backed DeFi activities.

Coinbase’s strategy aligns with a broader plan to offer cross-chain options for bitcoin-backed DeFi, enhancing access across various networks.

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