Fresh news from the crypto world! đ
- Coinbase joins the wrapped BTC race and in just one week has accumulated almost 2,000 tokens in circulation, challenging established players like Huobi BTC and renBTC.
- cbBTC is already the third largest wrapped BTC token, surpassed only by BitGo's wBTC and tBTC.
- Wrapped BTC tokens allow users to trade, lend, and liquidate in DeFi applications.
- 64% of cbBTC is Ethereum-based and used on decentralized exchanges like Uniswap.
- Coinbase could gain a larger market share thanks to its large BTC holdings.
- BitGo expands its global presence by adopting LayerZero's OFT standard and collaborating with BitGlobal in Asia.
What do you think about these movements in the wrapped BTC market? Leave us your comments!
