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Coinbase officially launches cbBTC, which will run on Ethereum mainnet and Base chain

BlockBeats news, on September 12, Coinbase officially announced that it has officially launched its wrapped Bitcoin token Coinbase Wrapped BTC (cbBTC). The token runs on the Ethereum network, is backed by 1:1 Bitcoin, and plans to support more blockchains.

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With a market value of over 100 million USD in just 24 hours after its launch, can cbBTC overtake its competitors?

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Coinbase: Why are we building the new Layer2 Network Base?

Today Coinbase announced the launch of its new Ethereum L2 network Base based on OP Stack, with a post describing its features and eco-partners.

Why is Coinbase's new chain Base a milestone?

On-Chain Activity

1h ago

Crypto whales bloodied, '10 big goals first', 48Clublan and Bit-affiliated entities see cumulative asset drawdown exceeding $230 million.

2h ago

A whale is suspected of dumping 592,895 UNI tokens at a loss, with an estimated loss of approximately $1.547 million.

3h ago

HYPE on Hyperliquid saw $60.3 million in liquidations in the past 24 hours, with long positions accounting for 99.7%.

3h ago

A certain whale closed an ETH long position with a loss of approximately $10.49 million, then opened a $27 million SOL long position.

24H Important News

2026-11-15

Analysis: The crypto market has shifted from a slow decline to accelerated liquidation, and a rebound may be difficult to sustain amid multiple bearish factors.

The crypto market is experiencing a broad decline, with funding rates indicating a significant increase in bearish sentiment towards ETH, while BTC remains overall in a bearish range.

Sources: Jensen Huang remains involved in NVIDIA's new CEO selection after departure, has called at least one potential candidate

Analyst: Bitcoin short-term holders' overall loss ratio rises to 73%, trapped positions may continue to suppress rebound

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