• bitcoinBitcoin (BTC) $ 84,014.00
  • ethereumEthereum (ETH) $ 2,698.28
  • tetherTether (USDT) $ 0.998417
  • bnbBNB (BNB) $ 853.42
  • xrpXRP (XRP) $ 1.75
  • usd-coinUSDC (USDC) $ 0.999661
  • jusdJUSD (JUSD) $ 0.999053
  • tronTRON (TRX) $ 0.292370
  • staked-etherLido Staked Ether (STETH) $ 2,698.76
  • dogecoinDogecoin (DOGE) $ 0.115216
  • figure-helocFigure Heloc (FIGR_HELOC) $ 1.02
  • cardanoCardano (ADA) $ 0.319696
  • wrapped-stethWrapped stETH (WSTETH) $ 3,307.69
  • bitcoin-cashBitcoin Cash (BCH) $ 550.65
  • whitebitWhiteBIT Coin (WBT) $ 51.23
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 83,863.00
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 2,940.14
  • usdsUSDS (USDS) $ 0.999545
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998272
  • wrapped-eethWrapped eETH (WEETH) $ 2,933.98
  • moneroMonero (XMR) $ 465.17
  • leo-tokenLEO Token (LEO) $ 9.24
  • chainlinkChainlink (LINK) $ 10.78
  • hyperliquidHyperliquid (HYPE) $ 31.80
  • canton-networkCanton (CC) $ 0.187113
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 83,979.00
  • ethena-usdeEthena USDe (USDE) $ 0.997640
  • stellarStellar (XLM) $ 0.192061
  • wethWETH (WETH) $ 2,699.17
  • zcashZcash (ZEC) $ 338.11
  • usd1-wlfiUSD1 (USD1) $ 0.999360
  • litecoinLitecoin (LTC) $ 65.03
  • suiSui (SUI) $ 1.27
  • avalanche-2Avalanche (AVAX) $ 10.85
  • usdt0USDT0 (USDT0) $ 0.998944
  • daiDai (DAI) $ 0.998163
  • susdssUSDS (SUSDS) $ 1.08
  • hedera-hashgraphHedera (HBAR) $ 0.098501
  • shiba-inuShiba Inu (SHIB) $ 0.000007
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.152306
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.22
  • paypal-usdPayPal USD (PYUSD) $ 0.998877
  • the-open-networkToncoin (TON) $ 1.43
  • crypto-com-chainCronos (CRO) $ 0.083815
  • rainRain (RAIN) $ 0.009411
  • polkadotPolkadot (DOT) $ 1.68
  • uniswapUniswap (UNI) $ 4.28
  • tether-goldTether Gold (XAUT) $ 4,890.02
  • mantleMantle (MNT) $ 0.771599
  • memecoreMemeCore (M) $ 1.40
  • bitget-tokenBitget Token (BGB) $ 3.42
  • falcon-financeFalcon USD (USDF) $ 0.992020
  • pax-goldPAX Gold (PAXG) $ 4,936.54
  • okbOKB (OKB) $ 100.88
  • aaveAave (AAVE) $ 137.97
  • bittensorBittensor (TAO) $ 216.55
  • pepePepe (PEPE) $ 0.000005
  • nearNEAR Protocol (NEAR) $ 1.32
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.42
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • pump-funPump.fun (PUMP) $ 0.002859
  • jito-staked-solJito Staked SOL (JITOSOL) $ 148.64
  • hashnote-usycCircle USYC (USYC) $ 1.11
  • internet-computerInternet Computer (ICP) $ 3.01
  • ethereum-classicEthereum Classic (ETC) $ 10.59
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,867.60
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,697.36
  • htx-daoHTX DAO (HTX) $ 0.000002
  • global-dollarGlobal Dollar (USDG) $ 0.999712
  • solanaWrapped SOL (SOL) $ 118.19
  • ondo-financeOndo (ONDO) $ 0.310797
  • aster-2Aster (ASTER) $ 0.603545
  • skySky (SKY) $ 0.064003
  • pi-networkPi Network (PI) $ 0.171258
  • syrupusdcsyrupUSDC (SYRUPUSDC) $ 1.15
  • hash-2Provenance Blockchain (HASH) $ 0.025250
  • ripple-usdRipple USD (RLUSD) $ 0.999823
  • kucoin-sharesKuCoin (KCS) $ 10.23
  • bfusdBFUSD (BFUSD) $ 0.997607
  • wbnbWrapped BNB (WBNB) $ 853.08
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999698
  • worldcoin-wldWorldcoin (WLD) $ 0.461104
  • binance-staked-solBinance Staked SOL (BNSOL) $ 129.45
  • ethenaEthena (ENA) $ 0.153267
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.112058
  • gatechain-tokenGate (GT) $ 9.37
  • usddUSDD (USDD) $ 0.999092
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,121.74
  • aptosAptos (APT) $ 1.44
  • cosmosCosmos Hub (ATOM) $ 2.09
  • myx-financeMYX Finance (MYX) $ 5.30
  • algorandAlgorand (ALGO) $ 0.112236
  • kaspaKaspa (KAS) $ 0.037156
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 84,232.00
  • official-trumpOfficial Trump (TRUMP) $ 4.50
  • ignition-fbtcFunction FBTC (FBTC) $ 83,606.00
  • arbitrumArbitrum (ARB) $ 0.154515
  • nexoNEXO (NEXO) $ 0.897540
  • render-tokenRender (RENDER) $ 1.70
  • filecoinFilecoin (FIL) $ 1.17
  • usdtbUSDtb (USDTB) $ 0.999261
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.97
  • bridged-usdc-polygon-pos-bridgePolygon Bridged USDC (Polygon PoS) (USDC.E) $ 0.999631
  • midnight-3Midnight (NIGHT) $ 0.050863
  • flare-networksFlare (FLR) $ 0.010113
  • vechainVeChain (VET) $ 0.009219
  • syrupusdtsyrupUSDT (SYRUPUSDT) $ 1.11
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,922.06
  • wrappedm-by-m0WrappedM by M0 (WM) $ 0.999645
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,874.41
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 32.13
  • janus-henderson-anemoy-aaa-clo-fundJanus Henderson Anemoy AAA CLO Fund (JAAA) $ 1.02
  • bonkBonk (BONK) $ 0.000008
  • riverRiver (RIVER) $ 35.01
  • ousgOUSG (OUSG) $ 114.15
  • xdce-crowd-saleXDC Network (XDC) $ 0.036099
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 83,991.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.208761
  • morphoMorpho (MORPHO) $ 1.21
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 83,798.00
  • clbtcclBTC (CLBTC) $ 84,310.00
  • eutblSpiko EU T-Bills Money Market Fund (EUTBL) $ 1.24
  • dashDash (DASH) $ 50.27
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,698.71
  • sei-networkSei (SEI) $ 0.094789
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999849
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,872.02
  • usdaiUSDai (USDAI) $ 0.999897
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,887.80
  • beldexBeldex (BDX) $ 0.080107
  • cocaCOCA (COCA) $ 1.26
  • story-2Story (IP) $ 1.72
  • wrapped-flareWrapped Flare (WFLR) $ 0.010111
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 137.79
  • usual-usdUsual USD (USD0) $ 0.997604
  • binance-peg-xrpBinance-Peg XRP (XRP) $ 1.75
  • janus-henderson-anemoy-treasury-fundJanus Henderson Anemoy Treasury Fund (JTRSY) $ 1.09
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.70
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.008843
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,700.24
  • tezosTezos (XTZ) $ 0.508620
  • blockstackStacks (STX) $ 0.290839
  • optimismOptimism (OP) $ 0.262922
  • ghoGHO (GHO) $ 0.998979
  • a7a5A7A5 (A7A5) $ 0.012941
  • tbtctBTC (TBTC) $ 83,864.00
  • chilizChiliz (CHZ) $ 0.048429
  • c8ntinuumc8ntinuum (CTM) $ 0.113607
  • true-usdTrueUSD (TUSD) $ 0.997750
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.735050
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.207034
  • fasttokenFasttoken (FTN) $ 1.09
  • curve-dao-tokenCurve DAO (CRV) $ 0.315473
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.996924
  • gtethGTETH (GTETH) $ 2,699.06
  • stable-2​​Stable (STABLE) $ 0.024850
  • lorenzo-wrapped-bitcoinLorenzo Wrapped Bitcoin (ENZOBTC) $ 87,884.00
  • lighterLighter (LIT) $ 1.72
  • steakhouse-usdc-morpho-vaultSteakhouse USDC Morpho Vault (STEAKUSDC) $ 1.12
  • euro-coinEURC (EURC) $ 1.18
  • doublezeroDoubleZero (2Z) $ 0.118004
  • resolv-usrResolv USR (USR) $ 0.999211
  • usdbUSDB (USDB) $ 0.999293
  • msolMarinade Staked SOL (MSOL) $ 160.13
  • ether-fi-liquid-ethEther.Fi Liquid ETH (LIQUIDETH) $ 2,905.74
  • resolv-wstusrResolv wstUSR (WSTUSR) $ 1.13
  • injective-protocolInjective (INJ) $ 4.00
  • lido-daoLido DAO (LDO) $ 0.468178
  • aerodrome-financeAerodrome Finance (AERO) $ 0.426573
  • sbtc-2sBTC (SBTC) $ 84,682.00
  • kinesis-goldKinesis Gold (KAU) $ 158.90
  • ether-fiEther.fi (ETHFI) $ 0.546210
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,024.19
  • syrupMaple Finance (SYRUP) $ 0.326056
  • bittorrentBitTorrent (BTT) $ 0.00000038
  • flokiFLOKI (FLOKI) $ 0.000039
  • stader-ethxStader ETHx (ETHX) $ 2,915.77
  • layerzeroLayerZero (ZRO) $ 1.80
  • justJUST (JST) $ 0.041450
  • celestiaCelestia (TIA) $ 0.404407
  • the-graphThe Graph (GRT) $ 0.032937
  • sun-tokenSun Token (SUN) $ 0.018101
  • staked-aaveStaked Aave (STKAAVE) $ 137.71
  • gnosisGnosis (GNO) $ 129.95
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,701.26
  • pyth-networkPyth Network (PYTH) $ 0.059234
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.813385
  • bitcoin-svBitcoin SV (BSV) $ 16.94
  • kaiaKaia (KAIA) $ 0.057486
  • apenftAINFT (NFT) $ 0.00000034
  • wrapped-apecoinWrapped ApeCoin (WAPE) $ 0.165312
  • kinesis-silverKinesis Silver (KAG) $ 88.58
  • iotaIOTA (IOTA) $ 0.077379
  • axie-infinityAxie Infinity (AXS) $ 1.94
  • decredDecred (DCR) $ 18.94
  • conflux-tokenConflux (CFX) $ 0.062464
  • jasmycoinJasmyCoin (JASMY) $ 0.006510
  • starknetStarknet (STRK) $ 0.061473
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 83,927.00
DeFi

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

By admin
0 107

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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