• bitcoinBitcoin (BTC) $ 115,877.00
  • ethereumEthereum (ETH) $ 4,618.35
  • xrpXRP (XRP) $ 3.04
  • tetherTether (USDT) $ 1.00
  • solanaSolana (SOL) $ 242.50
  • bnbBNB (BNB) $ 929.56
  • usd-coinUSDC (USDC) $ 0.999805
  • dogecoinDogecoin (DOGE) $ 0.279010
  • staked-etherLido Staked Ether (STETH) $ 4,610.71
  • tronTRON (TRX) $ 0.348231
  • cardanoCardano (ADA) $ 0.890302
  • wrapped-stethWrapped stETH (WSTETH) $ 5,597.57
  • chainlinkChainlink (LINK) $ 24.23
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 4,982.23
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 115,724.00
  • hyperliquidHyperliquid (HYPE) $ 54.17
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • suiSui (SUI) $ 3.71
  • avalanche-2Avalanche (AVAX) $ 29.54
  • figure-helocFigure Heloc (FIGR_HELOC) $ 1.00
  • stellarStellar (XLM) $ 0.389528
  • wrapped-eethWrapped eETH (WEETH) $ 4,961.82
  • bitcoin-cashBitcoin Cash (BCH) $ 594.18
  • wethWETH (WETH) $ 4,620.36
  • hedera-hashgraphHedera (HBAR) $ 0.239987
  • litecoinLitecoin (LTC) $ 115.32
  • leo-tokenLEO Token (LEO) $ 9.53
  • the-open-networkToncoin (TON) $ 3.18
  • shiba-inuShiba Inu (SHIB) $ 0.000014
  • usdsUSDS (USDS) $ 0.999716
  • crypto-com-chainCronos (CRO) $ 0.237071
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 115,830.00
  • polkadotPolkadot (DOT) $ 4.33
  • whitebitWhiteBIT Coin (WBT) $ 44.09
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.20
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.211969
  • uniswapUniswap (UNI) $ 9.43
  • moneroMonero (XMR) $ 306.50
  • mantleMantle (MNT) $ 1.60
  • ethenaEthena (ENA) $ 0.748931
  • pepePepe (PEPE) $ 0.000012
  • aaveAave (AAVE) $ 308.71
  • daiDai (DAI) $ 0.999856
  • bitget-tokenBitget Token (BGB) $ 4.94
  • memecoreMemeCore (M) $ 2.58
  • okbOKB (OKB) $ 199.14
  • jito-staked-solJito Staked SOL (JITOSOL) $ 297.92
  • nearNEAR Protocol (NEAR) $ 2.71
  • bittensorBittensor (TAO) $ 351.32
  • ondo-financeOndo (ONDO) $ 1.05
  • ethereum-classicEthereum Classic (ETC) $ 21.15
  • worldcoin-wldWorldcoin (WLD) $ 1.60
  • aptosAptos (APT) $ 4.54
  • story-2Story (IP) $ 9.80
  • binance-staked-solBinance Staked SOL (BNSOL) $ 259.89
  • pi-networkPi Network (PI) $ 0.357099
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.273098
  • usdt0USDT0 (USDT0) $ 1.00
  • pump-funPump.fun (PUMP) $ 0.007949
  • binance-peg-wethBinance-Peg WETH (WETH) $ 4,625.25
  • arbitrumArbitrum (ARB) $ 0.516513
  • usd1-wlfiUSD1 (USD1) $ 0.999723
  • internet-computerInternet Computer (ICP) $ 4.86
  • kaspaKaspa (KAS) $ 0.086075
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.87
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.034934
  • cosmosCosmos Hub (ATOM) $ 4.66
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 54.32
  • susdssUSDS (SUSDS) $ 1.07
  • vechainVeChain (VET) $ 0.024659
  • algorandAlgorand (ALGO) $ 0.240905
  • rocket-pool-ethRocket Pool ETH (RETH) $ 5,278.74
  • myx-financeMYX Finance (MYX) $ 10.68
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 4,858.25
  • kucoin-sharesKuCoin (KCS) $ 16.11
  • gatechain-tokenGate (GT) $ 17.12
  • render-tokenRender (RENDER) $ 3.90
  • sei-networkSei (SEI) $ 0.332871
  • fasttokenFasttoken (FTN) $ 4.48
  • bonkBonk (BONK) $ 0.000025
  • hash-2Provenance Blockchain (HASH) $ 0.037521
  • usdtbUSDtb (USDTB) $ 1.00
  • flare-networksFlare (FLR) $ 0.024481
  • skySky (SKY) $ 0.076238
  • falcon-financeFalcon USD (USDF) $ 1.00
  • official-trumpOfficial Trump (TRUMP) $ 8.77
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,862.12
  • filecoinFilecoin (FIL) $ 2.52
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.659914
  • bfusdBFUSD (BFUSD) $ 1.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.541483
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 4,988.15
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 115,839.00
  • quant-networkQuant (QNT) $ 102.76
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 4,886.84
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • optimismOptimism (OP) $ 0.788359
  • celestiaCelestia (TIA) $ 1.77
  • injective-protocolInjective (INJ) $ 14.13
  • tether-goldTether Gold (XAUT) $ 3,648.96
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 275.58
  • xdce-crowd-saleXDC Network (XDC) $ 0.076407
  • paypal-usdPayPal USD (PYUSD) $ 0.999959
  • mantle-staked-etherMantle Staked Ether (METH) $ 4,918.79
  • nexoNEXO (NEXO) $ 1.29
  • spx6900SPX6900 (SPX) $ 1.37
  • immutable-xImmutable (IMX) $ 0.650139
  • wbnbWrapped BNB (WBNB) $ 929.37
  • blockstackStacks (STX) $ 0.671586
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 115,486.00
  • sonic-3Sonic (S) $ 0.306900
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999128
  • curve-dao-tokenCurve DAO (CRV) $ 0.795555
  • syrupusdcsyrupUSDC (SYRUPUSDC) $ 1.12
  • lido-daoLido DAO (LDO) $ 1.24
  • msolMarinade Staked SOL (MSOL) $ 320.81
  • aerodrome-financeAerodrome Finance (AERO) $ 1.19
  • saros-financeSaros (SAROS) $ 0.404405
  • pax-goldPAX Gold (PAXG) $ 3,655.68
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999881
  • super-oethSuper OETH (SUPEROETH) $ 4,616.72
  • the-graphThe Graph (GRT) $ 0.096761
  • flokiFLOKI (FLOKI) $ 0.000101
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 115,705.00
  • pyth-networkPyth Network (PYTH) $ 0.166755
  • dogwifcoindogwifhat (WIF) $ 0.932106
  • kaiaKaia (KAIA) $ 0.157413
  • raydiumRaydium (RAY) $ 3.44
  • conflux-tokenConflux (CFX) $ 0.176155
  • clbtcclBTC (CLBTC) $ 116,021.00
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 4,447.25
  • fartcoinFartcoin (FARTCOIN) $ 0.884687
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.55
  • fourFour (FORM) $ 2.26
  • pendlePendle (PENDLE) $ 5.05
  • theta-tokenTheta Network (THETA) $ 0.845064
  • zcashZcash (ZEC) $ 51.40
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.27
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 4,618.38
  • tezosTezos (XTZ) $ 0.767467
  • galaGALA (GALA) $ 0.017478
  • ethereum-name-serviceEthereum Name Service (ENS) $ 23.82
  • iotaIOTA (IOTA) $ 0.194298
  • vaultaVaulta (A) $ 0.483082
  • the-sandboxThe Sandbox (SAND) $ 0.309689
  • jito-governance-tokenJito (JTO) $ 1.94
  • ripple-usdRipple USD (RLUSD) $ 0.999809
  • ousgOUSG (OUSG) $ 112.55
  • aethirAethir (ATH) $ 0.058039
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.278290
  • jasmycoinJasmyCoin (JASMY) $ 0.014728
  • stader-ethxStader ETHx (ETHX) $ 4,936.88
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 4,607.20
  • ether-fiEther.fi (ETHFI) $ 1.48
  • tbtctBTC (TBTC) $ 115,471.00
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.997908
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.08
  • flowFlow (FLOW) $ 0.417223
  • decentralandDecentraland (MANA) $ 0.348607
  • morphoMorpho (MORPHO) $ 2.02
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 4,620.32
  • newton-projectAB (AB) $ 0.008372
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 5,082.73
  • bittorrentBitTorrent (BTT) $ 0.00000065
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 4,927.33
  • walrus-2Walrus (WAL) $ 0.436932
  • beldexBeldex (BDX) $ 0.083029
  • swethSwell Ethereum (SWETH) $ 4,994.89
  • global-dollarGlobal Dollar (USDG) $ 0.999740
  • usual-usdUsual USD (USD0) $ 0.998284
  • loaded-lionsLoaded Lions (LION) $ 0.018199
  • vision-3Vision (VSN) $ 0.167887
  • starknetStarknet (STRK) $ 0.131930
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.62
  • build-onBUILDon (B) $ 0.534513
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 115,786.00
  • bitcoin-svBitcoin SV (BSV) $ 26.44
  • benqi-liquid-staked-avaxBENQI Liquid Staked AVAX (SAVAX) $ 36.14
  • based-brettBrett (BRETT) $ 0.052290
  • syrupMaple Finance (SYRUP) $ 0.464481
  • heliumHelium (HNT) $ 2.77
  • bybit-staked-solBybit Staked SOL (BBSOL) $ 267.61
  • frax-etherFrax Ether (FRXETH) $ 4,601.49
  • usddUSDD (USDD) $ 1.00
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 4,617.20
  • dydx-chaindYdX (DYDX) $ 0.643255
  • true-usdTrueUSD (TUSD) $ 0.998923
  • apecoinApeCoin (APE) $ 0.603162
  • lineaLinea (LINEA) $ 0.030990
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.997475
  • arweaveArweave (AR) $ 7.31
  • neoNEO (NEO) $ 6.76
  • telcoinTelcoin (TEL) $ 0.005080
  • coredaoorgCore (CORE) $ 0.460767
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.82
  • instadappFluid (FLUID) $ 6.05
  • reserve-rights-tokenReserve Rights (RSR) $ 0.007732
  • thorchainTHORChain (RUNE) $ 1.31
DeFi

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

By admin
0 56

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.

Source

admin 12945 posts 0 comments
You might also like More from author

Leave A Reply

Your email address will not be published.