Coinbase Enhances DeFi Accessibility with Wrapped XRP and DOGE on Base Network
Coinbase has taken a significant step in expanding decentralized finance (DeFi) accessibility by introducing wrapped versions of XRP and Dogecoin (DOGE) on its Layer 2 network, Base. The new tokens, cbXRP and cbDOGE, are fully backed by their native counterparts, allowing users to seamlessly participate in DeFi applications without leaving the Base ecosystem. This move underscores Coinbase's commitment to simplifying on-chain participation and fostering cross-chain utility in the rapidly evolving DeFi landscape. The initiative is expected to attract more users to the Base network, further solidifying Coinbase's position as a leader in the cryptocurrency space.
Coinbase Expands DeFi Access with Wrapped XRP and DOGE on Base Network
Coinbase has introduced wrapped versions of XRP and Dogecoin on its Layer 2 network, Base, marking a strategic push to enhance cross-chain utility in decentralized finance. The new tokens—cbXRP and cbDOGE—are fully backed by their native counterparts, enabling users to engage with DeFi applications without leaving the Base ecosystem.
The initiative aligns with Coinbase's broader vision to simplify on-chain participation. A Base spokesperson emphasized the goal of creating an open, permissionless environment for digital asset accessibility. Wrapped Litecoin (cbLTC) and Cardano (cbADA) are slated for future integration, signaling continued expansion of supported assets.
Separately, ethereum is gaining traction as institutional infrastructure of choice, reflecting growing confidence in its financial utility. The developments underscore a maturing crypto landscape where interoperability and institutional adoption are driving momentum.
Fartcoin Spikes 18% on Coinbase Listing News; How High Can It Go?
The Solana-based meme token Fartcoin surged 18% following Coinbase's announcement of its potential listing. Trading near $1.06, the token's daily volume spiked 83% to $408 million, pushing its market cap to $1.06 billion. Analysts speculate a $2 target if momentum holds.
Coinbase's roadmap inclusion signals growing institutional recognition for meme coins, despite Fartcoin's whimsical branding. The token now ranks as the sixth-largest meme coin by market cap, trailing Bonk, Trump, Pepe, Shiba Inu, and Dogecoin.
Market makers and technical readiness remain final hurdles before full exchange integration. The listing could further legitimize Solana's ecosystem of viral tokens, which continue to attract speculative capital.
Dogecoin Price Analysis: Can Coinbase’s cbDOGE Lead to a Rebound?
Dogecoin's market relevance surges as Coinbase launches Wrapped dogecoin (cbDOGE) on Ethereum's Layer-2 Base network. The 1:1 pegged token bridges DOGE to Ethereum's DeFi ecosystem, potentially revitalizing its price action despite recent volatility.
Currently trading at $0.1766, Doge shows a 6.89% daily drop but maintains a 13.45% weekly gain. The $26.45 billion market cap reflects broader market pressures. Technical indicators suggest oversold conditions, with RSI at 33.23 hinting at possible near-term recovery if support at $0.1652 holds.
Shiba Inu Stages Partial Recovery After Whale Transfer Sparks Volatility
Shiba Inu clawed back 3% from overnight lows below $0.00001200, outperforming Bitcoin despite market jitters triggered by a $36 million institutional transfer. The memecoin found firm support at $0.0000120 after Thursday's 7.7% plunge, with technical indicators suggesting accumulation at this level.
Blockchain analysts initially misinterpreted the 2.87 trillion SHIB transfer to Coinbase Institutional as bearish whale activity before identifying the transaction as routine market maker custody operations. The token remains constrained within a descending channel formed by May's price extremes, trading 10% below last week's levels amid broader crypto market pressures.
Trading volumes spiked to 2.9 billion SHIB during the sell-off, with the subsequent recovery establishing an ascending support trendline. Market participants now watch whether the $0.0000120 support can sustain against persistent downward channel resistance.
Crypto Market Dips Ahead of Weekend as Bitcoin Slips to $100K, Ethereum Below $2,500
The cryptocurrency market faced a sharp downturn today, with Bitcoin briefly touching $100,501 during late U.S. trading hours. Ethereum followed suit, dropping below $2,500 before a partial recovery. The sell-off coincided with escalating tensions between Donald Trump and Elon Musk, though market analysts remain divided on whether this was the primary catalyst.
Bitcoin has since rebounded 3% to $104,060, with trading volume surging 51% to $62.79 billion. Ethereum shows similar resilience, bouncing from $2,400 to $2,478 despite a 5.68% daily loss. The swift recovery suggests underlying bullish sentiment remains intact.
Fartcoin led gainers with a 16% surge following its Coinbase listing announcement, while FLOKI, TRX and RAY posted modest 2% gains. STX plunged 13% to lead decliners, followed by LDO, TRUMP and JUP with 9% losses.
Gemini Exchange Files for IPO Following Circle's NYSE Debut
Gemini Space Station, Inc., the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has taken a decisive step toward going public. The company confidentially submitted a draft registration statement on Form S-1 to the SEC, signaling its intent to pursue an initial public offering of Class A common stock.
The MOVE comes hot on the heels of Circle's successful NYSE debut, marking a potential resurgence of crypto-native companies testing public markets. While share quantities and pricing remain undetermined pending SEC review, the filing demonstrates growing institutional confidence in digital asset infrastructure.
Market conditions will ultimately determine the IPO's timing and execution. Gemini emphasized this announcement doesn't constitute a formal offering, with any potential securities sales to comply strictly with SEC regulations under the 1933 Securities Act.
