The big one is coming! $SOL is about to skyrocket!
Coinbase has made a big move, they actually 'moved' Bitcoin to Solana! What does this mean? Simply put, you can now use Bitcoin directly in the super popular DeFi world of Solana!
On November 7, Coinbase announced this shocking news, they created something new called cbBTC, with it, Bitcoin can circulate freely on Solana!
cbBTC is a great thing, it is a token based on Solana that can represent various assets, of course, including Bitcoin. Moreover, cbBTC is equivalent to Bitcoin, making it very convenient to use!
Now, cbBTC has been used on several decentralized exchanges and DeFi platforms on Solana, such as Jupiter, Meteora, and Kamino Finance.
cbBTC also resolved the mess left by the previous soBTC, which was the wrapped Bitcoin asset that had issues when FTX collapsed. Now that cbBTC is here, everything is renewed!
The Solana team is also very happy, they said cbBTC is not alone, there are also tBTC, zBTC, and WBTC on Solana! It seems there are many ways to use Bitcoin on Solana!
Since cbBTC was launched in mid-September, its market value has risen to over $1 billion! This speed is simply like a rocket!
Now, Solana's DeFi is slowly recovering, the total locked value has increased by 250%, reaching $8.25 billion! Although Ethereum's DeFi is recovering a bit slower, its total value is still as high as $60 billion!
Since this news came out, prices have increased by 3.4%! During trading on the morning of November 8, it was already close to $200!
Friends, what do you think? I believe the collaboration between Bitcoin and Solana will definitely make the DeFi market even more explosive! The DeFi market might take off again!
Get ready for potential coins, like + comment, keep up with my rhythm, and earn big in this bull market!
