Coinbase Expands DeFi Reach with Wrapped XRP and DOGE on Base Network
Coinbase has taken a significant step in bridging the gap between legacy cryptocurrencies and decentralized finance (DeFi) by launching wrapped versions of XRP and Dogecoin on its Base network. The new tokens, cbXRP and cbDOGE, are ERC-20 compliant and pegged 1:1 to their underlying assets, enabling seamless integration into Ethereum's DeFi ecosystem. This strategic move aims to enhance liquidity and accessibility for these popular cryptocurrencies within the rapidly growing DeFi space. Base, Coinbase's ethereum Layer 2 solution, continues to demonstrate impressive growth, with $14.4 billion in total value locked (TVL), further solidifying its position as a key player in the blockchain infrastructure landscape. The introduction of cbXRP and cbDOGE is expected to attract more users and developers to the Base network, fostering greater innovation and adoption in the DeFi sector.
Coinbase Launches Wrapped XRP and DOGE on Base Network
Coinbase has unveiled cbXRP and cbDOGE, wrapped versions of XRP and Dogecoin, on its Base network. These ERC-20 tokens are pegged 1:1 to their underlying assets, enabling seamless integration into Ethereum's DeFi ecosystem. The MOVE marks a strategic push to bridge liquidity from legacy cryptocurrencies into decentralized finance.
Base, Coinbase's Ethereum Layer 2 solution, continues its rapid growth with $14.4 billion in total value locked and $3.6 trillion in stablecoin volume. The exchange's custodial wrapping mechanism effectively creates gateways for XRP and DOGE holders to access DeFi protocols while maintaining centralized control over asset reserves.
This development reflects the ongoing convergence between centralized and decentralized finance infrastructures. By bringing two of crypto's most recognizable assets into the EVM-compatible environment, Coinbase positions itself as both a custodian and an enabler of DeFi innovation.
Fartcoin Surges 12% on Coinbase Listing Speculation
Fartcoin (FARTCOIN) defied broader market weakness with a 12% rally after Coinbase added the memecoin to its listing roadmap. Trading volume spiked to $400 million, propelling the token into the top 100 by market capitalization.
The Solana-based token, originally created as a joke in October 2024, has developed a cult following among traders seeking levity in volatile markets. Its previous peak of $2.68 in January demonstrates the speculative fervor surrounding meme assets.
Coinbase's roadmap typically precedes spot trading activation by weeks, though no definitive timeline exists. The exchange's potential embrace of Fartcoin underscores the growing institutional tolerance for meme-driven assets with no fundamental utility.
Fartcoin Surges Over 14% After Coinbase Roadmap Surprise
Fartcoin rallied sharply this week, gaining over 14% following its unexpected inclusion in Coinbase's listing roadmap. Trading volumes spiked more than 100% within 24 hours, signaling intense speculative interest. The move reflects growing mainstream validation for the token, though questions linger about sustainability beyond the initial hype.
Coinbase's roadmap often foreshadows official listings, typically within weeks. While no confirmed date exists yet, historical precedent suggests heightened volatility ahead. Liquidity access and exchange visibility could attract fresh capital—or trigger a 'buy the rumor, sell the news' reversal.
Coinbase Listing Hype Sends Fartcoin Back Into Top 100
Fartcoin, a joke-themed token, surged 12% in a single day after Coinbase added it to its listing roadmap. While not yet officially listed, the inclusion typically precedes a full listing within weeks. Traders are betting on this pattern, driving the token's price up by 372% from its yearly low.
Trading volume doubled to $414 million, pushing Fartcoin's market cap back above $1 billion. The rally defies broader crypto market weakness, fueled by political tensions between Donald Trump and Elon Musk over digital asset regulation.
Originally minted for just 2 SOL on Pump.fun in October 2024, FARTCOIN has evolved from a meme to a cult favorite. The token now trades at $1.06, reclaiming a spot in the top 100 cryptocurrencies by market value.
Coinbase Data Breach Tied to India-Based Contractor, Exposing 70,000 Users
Coinbase faces renewed scrutiny after a data breach linked to a third-party support vendor in India compromised sensitive information of 70,000 users. The incident, involving contractors from outsourcing firm TaskUs, exposed names, email addresses, and potentially transaction histories—though no funds were stolen.
Internal tools were photographed by at least two support agents, with evidence suggesting deliberate data exfiltration for financial gain. The breach raises significant concerns about phishing risks and identity theft vulnerabilities for affected customers.
Notably, Coinbase allegedly knew about the vulnerability months before external actors demanded a $20 million ransom, highlighting systemic security gaps in vendor management protocols.
Dogecoin Price Analysis: Can Coinbase’s cbDOGE Lead to a Rebound?
Dogecoin has emerged as a market heavyweight following a fresh utility boost. Coinbase's launch of Wrapped Dogecoin (cbDOGE) on Ethereum’s Layer-2 Base network marks a significant development. The new token maintains a 1:1 peg with DOGE, enabling holders to access Ethereum’s burgeoning DeFi ecosystem.
Despite the positive momentum, Dogecoin’s price action remains volatile. Currently trading at $0.1766, Doge has seen a 6.89% drop in the last 24 hours but retains a 13.45% weekly gain. The market cap stands at $26.45 billion, reflecting broader market pressures. Trading ranges have fluctuated between $0.1692 and $0.1924.
Technical indicators suggest a potential inflection point. The RSI at 33.23 signals oversold conditions, hinting at a possible relief rally. A rebound from current levels could test resistance at $0.1966, with further upside to $0.22 if sentiment improves. Failure to hold support may prolong downward pressure.
