|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Coinbase Announces the Launch of CBBTC, a Bitcoin (BTC)-Backed Ethereum (ETH)-Based Token
Sep 13, 2024 at 06:01 am
Top US-based crypto exchange platform Coinbase is announcing the launch of Coinbase Wrapped Bitcoin (cbBTC), a Bitcoin (BTC)-backed Ethereum (ETH)-based token.
Major US crypto exchange Coinbase is unveiling the launch of Coinbase Wrapped Bitcoin (cbBTC), a Bitcoin (BTC)-backed Ethereum (ETH)-based token.
In a new thread on the social media platform X, Coinbase says that cbBTC is now onchain and ready, enabling holders of the top crypto asset by market cap to access decentralized finance (DeFi) applications on the Base and Ethereum blockchains.
According to Coinbase, cbBTC will be available on several prominent DeFi networks, including Aave (AAVE), Curve FInance (CRV), Compound Finance (COMP), Moonwell (WELL), and Maple Finance (MPL).
In a new blog post, Coinbase explains how BTC holders can use the Coinbase-wrapped version of the crypto king to streamline their DeFi experience.
“cbBTC removes a key point of friction by allowing customers to use Bitcoin they already hold in new ways onchain. cbAT is built to be seamlessly compatible with DeFi applications, so users can now tap into novel DeFi use cases like providing their Bitcoin as liquidity to DeFi protocols, or using it as collateral to borrow other crypto assets…
When Coinbase users send their BTC from Coinbase to an address on Base or Ethereum, that BTC will automatically be converted 1:1 to cbBTC. When users receive cbBTC in their Coinbase accounts, it will be converted 1:1 from cbBTC to BTC.”
Bitcoin is trading for $57,688 at press time, up 2% over the last 24 hours.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- MemeBet Token — World's First Meme Coin Casino That Could Explode After Launch
- Sep 26, 2024 at 04:25 am
- The goal of meme cryptos is to deliver massive gains to their investors in record time. However, many lack the utilities or strategic tokenomics to become sustainable.
-
- Worldcoin (WLD) Price Chart Hints a Bullish Trend is Brewing; Can Bulls Reclaim the $6 Mark?
- Sep 26, 2024 at 04:25 am
- The Worldcoin price chart has reached a fascinating point where it resembles a previous pattern but the technicals suggest a huge bull run is on the horizon.
-
- Bitcoin Price Prediction: Will BTC Reach $100K or Even $1M by 2025?
- Sep 26, 2024 at 04:25 am
- Bitcoin experienced a significant rally in early 2024, following the launch of the first spot bitcoin exchange-traded funds in January.
-
- SEC Chair Gary Gensler Defends Crypto Custody Regulation Firmly
- Sep 26, 2024 at 04:25 am
- SEC Chair Gary Gensler has assured Congress during a congressional testimony that the Staff Accounting Bulletin (SAB) 121 will continue to be operational.
-
- MemeFi ($MEMEFI) Makes Debut on Bitget Exchange, Offers Pre-Market Trading Ahead of TGE
- Sep 26, 2024 at 04:25 am
- MemeFi ($MEMEFI) has officially made its debut on the Bitget exchange, offering pre-market trading ahead of the Token Generation Event (TGE).
-
- Worldcoin's WLD Token Surges 54% in Three Days, Retesting $2 Resistance
- Sep 26, 2024 at 04:25 am
- Worldcoin’s WLD token surged for a third consecutive day, climbing 54% from its August low, following the project’s expansion into three additional countries.
-
- Bitcoin ETFs Record Fresh Inflows, SwissCheese’s Price Rallies, & BlockDAG Launches Testnet—30,000x ROI on the Horizon?
- Sep 26, 2024 at 04:25 am
- The spotlight is once again on Bitcoin ETFs, which have just welcomed a hefty $263 million in new inflows, marking a robust revival of interest from institutional traders.
-
- The Sandbox (SAND) Poised for a Price Decline as Millions of Tokens Are Dumped onto Centralized Exchanges
- Sep 26, 2024 at 04:25 am
- After experiencing a notable rally over the past few days, The Sandbox [SAND] looked poised for a price decline as millions of tokens are being dumped onto centralized exchanges.
-
- Hedera (HBAR) Price Prediction: HBAR Continues Positive Trend, Up 17% in a Week
- Sep 26, 2024 at 04:25 am
- Over the past 24 hours, Hedera's HBAR/USD price rose 3.04% to $0.06. This continues its positive trend over the past week where it has experienced a 17.0% gain