Author: Lipika Deka
Estonia Source: TronWeekly
Sep 27, 2024 02:30

Coinbases cbBTC Dominates Wrapped Bitcoin Market

Coinbase’s newly launched wrapped Bitcoin token, cbBTC, has emerged as the dominant force in the wrapped BTC market. Data from Intotheblock showed that the token now accounts for a whopping 49% of the total wrapped Bitcoin volume, outperforming all other competitors. This remarkable achievement was accomplished in just two weeks. cbBTC’s meteoric rise is attributed […]

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Author: Cointelegraph by Alex O’Donnell
United States Source: Cointelegraph.com News
Sep 24, 2024 12:00

21.cos Bitcoin wrapper to add Chainlink proof of reserve

The integration comes as other Bitcoin wrappers face scrutiny for custody practices. 

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Author: Oluwapelumi Adejumo
United States Source: CryptoSlate
Sep 24, 2024 01:10

21.co integrates Chainlink to enhance 21BTC transparency via real-time Proof-of-Reserves

21.co, the parent company of asset management firm 21Shares, has integrated Chainlink Proof of Reserve on the Ethereum and Solana mainnet to bolster transparency of its wrapped Bitcoin product, 21BTC, according to a Sept. 23 statement. The company will use Chainlink’s Proof of Reserve through its digital asset platform, Onyx, to automate real-time reserve verification to […]

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Author: Semilore Faleti
United Kingdom Source: NewsBTC
Sep 23, 2024 12:05

Solana (SOL) Failure To Break $154 Could Lead To $85 Correction Analyst

Prominent altcoin Solana was one of the major headliners recently, notching an 8.22% gain in the last seven days, according to data from CoinMarketCap. This positive performance saw Solana climb as high as $150, a price mark last seen in late August. The sentiments around the fifth-largest cryptocurrency are largely bullish, however crypto analyst Ali Martinez has released certain cautionary notes for investors. Related Reading: Solana Liquid Staking Could Touch $18 Billion Will It Benefit These Altcoins? Solanas Price Breakout Crucial To Avoid Slip To $85 In an X post on Sunday, Ali Martinez noted that Solana is currently headed for major price resistance at the $154 price zone. The analyst warns the altcoin must not suffer a rejection at this price level to avoid a major price crash.  In the crypto market, price rejections at certain price marks occur for various reasons including historical evidence of resistance at said price level. According to Solanas daily chart, the $154 price zone presents a strong resistance level stretching as far back as May. If a rejection occurs at this level, Solana could likely fall to around $128 in a best-case scenario. However, the presence of massive selling pressure could drive the altcoins price as low as $85, indicating a potential 44.1% decline from Solanas current price. Alternatively, If Solana breaks past $154, it could attain a market price of $190, at which lies its next major resistance. Such price gain would represent a 23.37% increase in the assets present market valuation.  At the time of writing, Solana continues to trade at $147.37 with a 1.24% gain on the last day, amid a 58.13% decline in trading volume activity. Also, the altcoin remains one of the market’s most resilient assets with 7.65% and 2.27% in the past seven and thirty days respectively despite long periods of market downturn. As the final quarter of 2024 approaches, Solana remains one of the favorite coins for profitability based on historical price data. This bullish stance is further strengthened by a robust meme market valued at $6.56 billion and continuous network development.   Solana To Soon Host cbBTC – Coinbase In other news, American crypto exchange Coinbase has unveiled a plan to integrate its newly launched wrapped Bitcoin asset- cbBTC – with the Solana network. This development was revealed by Coinbase executive Hassan Ahmed while speaking at the Breakpoint conference who cited interest in the Solana network from the exchange customers. Coinbase launched cbBTC on September 12 as a new digital product pegged 1:1 ratio with Bitcoin held in the exchange reserves. The wrapped Bitcoin asset was initially launched on the Ethereum and Base network with availability to customers in the United Kingdom, Australia, Singapore, and the United States barring New York.  Featured image from ProRealCode, chart from Tradingview

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Author: Cointelegraph by Vince Quill
United States Source: Cointelegraph.com News
Sep 23, 2024 12:00

Coinbase chief legal officer responds to cbBTC service terms fears

Coinbase's cbBTC is backed at a 1:1 ratio with Bitcoin, which serves as the underlying asset for the tokenized BTC wrapper.

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Author: Kashif Saleem
Estonia Source: TronWeekly
Sep 23, 2024 02:30

Coinbase Unveils Wrapped Bitcoin (cbBTC) Integration on Solana Network

Th Soln blockchin is st to significntly nhnc its position in Dcntrlizd Finnc (DFi). At th rcnt Brkpoint 2024 confrnc, Coinbase, lding cryptocurrncy xchng, rvld plns to intgrt its wrppd Bitcoin product, cbBTC, into th Soln ntwork. Coinbase’s dcision rprsnts strtgic mov imd t providing usrs with incrsd flxibility nd options for using […]

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Author: Cointelegraph by Vince Quill
United States Source: Cointelegraph.com News
Sep 22, 2024 12:00

Coinbase's cbBTC wrapped Bitcoin coming to Solana Breakpoint 2024

Wrapped Bitcoin products allow users to retain asset control while using Bitcoin as collateral for decentralized finance applications.

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Author: Cointelegraph by Vince Quill
United States Source: Cointelegraph.com News
Sep 23, 2024 12:00

Coinbases cbBTC wrapped Bitcoin coming to Solana Breakpoint 2024

Wrapped Bitcoin products allow users to retain asset control while using Bitcoin as collateral for decentralized finance applications.

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Author: Sarala
United Arab Emirates Source: TheNewsCrypto – Blockchain & Cryptocurrency News M
Sep 17, 2024 04:10

Coinbase Denies Giving Special Bitcoin Borrowing Privileges to BlackRock

The worlds second-largest crypto exchange, Coinbase, has denied allegations that it granted BlackRock, the worlds largest asset manager, special privileges to borrow Bitcoin. These claims arose when analyst Tyler Durden suggested that Coinbase was issuing Bitcoin IOUs (essentially loans) to BlackRock, allowing it to borrow Bitcoin without maintaining proper 1:1

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Author: Oluwapelumi Adejumo
United States Source: CryptoSlate
Sep 12, 2024 01:10

Aaves bid to integrate Coinbases cbBTC sparks community concerns

Aave DAO has received a proposal to integrate Coinbase’s upcoming Bitcoin wrapper, cbBTC, into its V3 platform on the Ethereum mainnet and Base. In a Sept. 10 post, Aave’s founder, Stani Kulechov, explained that the proposal aimed to position Aave as the preferred platform for launching Tier-1 assets. Proposal details The proposal seeks to expand […]

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Author: Cointelegraph by Alex O’Donnell
United States Source: Cointelegraph.com News
Dec 19, 2024 12:00

Synthetix launches multi-collateral perps on Base amid revamp

The DeFi protocol also launched an in-house perpetuals trading app.

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Author: Cointelegraph by Josh O'Sullivan
United States Source: Cointelegraph.com News
Dec 17, 2024 12:00

Coinbase accused of market manipulation, Kraken Australia hit with $5M fine: Law Decoded

A lawsuit against Coinbase concerns allegations under the Sherman Act of attempted monopolization of the Wrapped Bitcoin market.

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Author: Oluwapelumi Adejumo
United States Source: CryptoSlate
Dec 14, 2024 01:10

BiT Global files lawsuit against Coinbase over allegations of breaching antitrust laws by delisting WBTC

BiT Global has filed a lawsuit against Coinbase, the largest crypto trading platform in the United States, according to a Dec. 13 court filing. The Justin Sun-linked crypto custodian alleged that the US exchange unfairly removed wrapped Bitcoin (WBTC) from its platform to favor its in-house product, Coinbase Wrapped Bitcoin (cbBTC). Antitrust violations According to […]

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Author: Cointelegraph by Alex O’Donnell
United States Source: Cointelegraph.com News
Nov 22, 2024 12:01

BiT Global claims Coinbase delisted wBTC for competitive advantage

Coinbase contends the delisting was based on a standard review of wBTCs suitability to trade on the exchange.

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Author: Cointelegraph by Alex O’Donnell
United States Source: Cointelegraph.com News
Nov 20, 2024 12:00

Coinbase to delist Wrapped Bitcoin

Coinbase has already discontinued market trading of WBTC and is only facilitating limit orders.

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Author: Dalmas Ngetich
United Kingdom Source: NewsBTC
Oct 19, 2024 12:05

Aave Address Count On Optimism Rapidly Growing, Will Price Rise To New 13-Month High?

Aave, the decentralized lending platform, is among the largest DeFi protocols by total value locked (TVL). Over the years, despite the crypto price boom and bust cycle, the platform has operated flawlessly without any technical hitches. Aave User Address Grew By 675% In One Week Since the beginning of the year, Aave has dominated headlines, mostly around its price performance and rising TVL. However, looking at other metrics, the lending platform is performing solidly. Related Reading: Bitcoin Price To $95,000? Heres What Needs To Happen First According to Santiment, Aave on Optimism is the fastest-growing protocol on their watch among platforms, commanding at least $500 million in TVL. The number of Aave addresses on Optimism grew by 675%, roughly twice that of KuCoin tokens (KCS).  At this pace, Aave outperformed Maker–another lending and borrowing protocol on Ethereum, Chainlink on Optimism, and Raydium–a top decentralized exchange (DEX) on Solana. Of note, Chainlink on Optimism and Raydium grew over the last week by 100%. The fact that Aave on Optimism grew faster than Raydium, the top DEX on Solana, is a milestone. By default, any meme coin launching on Pumpfun that achieves at least 69 SOL automatically lists on Raydium. Although only a small percentage graduate and are listed on Raydium, tens of thousands of meme coins launch on the meme coin launchpad on Solana. Santiment now thinks AAVE prices may likely benefit from this growth. Pointing to historical performance, the sentiment analytics platform said there is usually a strong correlation between rising utility and consistent growth with long-term gains. According to Dune, there are over 49,800 unique daily users of Aave v3 on Ethereum. Over the last two days, there were 70 new users. While there is growth in the number of cumulative users, as expected, the number of new users remains steady. Will Prices Rise To Fresh 2024 Highs? AAVE is trading above $150, trending at around 2024 highs. Although the token is in an uptrend, prices have moved sideways over the past four weeks. Technically, a close above $180 could drive demand, lifting prices to new 2024 highs in the coming days.   Possible drivers include the recovery of DeFi and other project-related factors. As of October 17, 56% of all cbBTC–the Bitcoin stablecoin by Coinbase–was locked in Aave. Related Reading: Market Data Hints At 500x XRP Rally In Upcoming Altcoin Season The protocol also plans to launch a new Merit Program for cbBTC. Those who borrow USDC by issuing cbBTC as collateral will receive more rewards if they move their debt from USDT to USDC. Moreover, those who switch from wBTC to cbBTC collateral will receive additional collateral. Feature image from UnSplash, chart from TradingView

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Author: Oluwapelumi Adejumo
United States Source: CryptoSlate
Oct 18, 2024 01:10

Kraken launches kBTC as competition heats up in wrapped Bitcoin market

Kraken has introduced a new wrapped Bitcoin product, kBTC, to tap into the rapidly expanding sector, according to an Oct. 17 statement. kBTC is a fully-backed, cross-network-compatible ERC-20 token representing Bitcoin. Each kBTC is backed 1:1 by an equivalent amount of Bitcoin, stored securely in Kraken’s custody, with on-chain reserves available for public verification. The […]

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Author: Cointelegraph by Josh O'Sullivan
United States Source: Cointelegraph.com News
Oct 02, 2024 12:00

DeFi resurgence driven by Fed cuts, China, key protocols

An Apollo Crypto report links DeFi resurgence to US Federal Reserve rate cuts, Chinas credit expansion and improved DeFi infrastructure.

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Author: Guillaume Girard
United States Source: Bitcoin Magazine: Bitcoin News, Articles, Charts,
Jan 17, 2025 01:25

Coinbase's Bitcoin Loans Are Not What They Seem

Not backed by real Bitcoin - not on the Bitcoin blockchain. We can do better.

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