Coinbase Boosts Cardano’s ADA Utility with cbADA Launch on Base Network

Cardano's ADA is holding steady at $0.57 as the broader cryptocurrency market shows signs of recovery. This stability comes amid significant developments, including Coinbase's introduction of cbADA—a wrapped ERC-20 version of ADA on Ethereum's Base network. The new token, backed 1:1 by ADA, enhances interoperability with decentralized finance (DeFi) platforms such as Uniswap and Aerodrome, following similar integrations with cbETH and cbLTC. On-chain data reflects growing adoption, with $600 million in daily trading volume and 1.2 billion ADA in futures positions. This move by Coinbase underscores the expanding utility of ADA and its increasing integration into the broader DeFi ecosystem.

Cardano Price Holds Steady as Coinbase Expands ADA Utility on Base Network

Cardano's ADA trades at $0.57 amid broader market recovery, buoyed by Coinbase's launch of cbADA—a wrapped ERC-20 version of the token on Ethereum's Base network. The 1:1 asset-backed integration unlocks DeFi interoperability with platforms like Uniswap and Aerodrome, mirroring earlier moves with cbETH and cbLTC.

On-chain metrics signal growing traction: $600 million in daily volume and 1.2 billion ADA in futures open interest. The Midnight Glacier airdrop has further amplified demand, positioning ADA for potential liquidity surges across multi-chain ecosystems.

Dogecoin Defends Key Support Amid X Payments Speculation

Dogecoin has rebounded 17% from weekend lows, firmly holding the $0.16 support level despite broader market turbulence. The meme cryptocurrency traded between $0.1628 and $0.1677 in the past 24 hours, with buyers aggressively defending the lower boundary during a 300 million DOGE volume spike.

Market sentiment appears bolstered by two developments: Coinbase's integration of wrapped Dogecoin (wDOGE) on its Base network, and ongoing speculation about potential Dogecoin integration in Elon Musk's X platform. The social media company has now secured money transmitter licenses in 39 U.S. states, though no official DOGE confirmation exists.

Technical structure shows dogecoin forming higher lows while facing resistance at $0.1677. The asset closed at $0.1657, demonstrating relative strength as geopolitical tensions weigh on risk assets globally.

XRP Surges 6% Amid Whale Activity and Retail Interest

XRP rallied nearly 6% in a late-session breakout, fueled by a quadrupling of hourly volume and confirmed support above $2.20. The surge coincided with major whale movements, including a $58 million transfer to Coinbase and a $439 million shift by Ripple to an unknown wallet. Despite typical bearish pressure from such activity, XRP held firm, signaling robust demand.

Market sentiment stabilized as cryptocurrencies broadly advanced, with XRP leading the charge from $2.19 to $2.20 in the final hour. Breakout volume hit 108.12 million—four times the average—underscoring technical significance. Retail interest spiked alongside the price action, with Google Trends showing accelerating searches for "XRP to $3."

The Ripple v. SEC case remains pivotal, as regulatory clarity could catalyze XRP's next leg higher. Analysts eye the July–September window for potential upside targets between $3 and $5, citing on-chain data and price models.

Coinbase Expands Base Network with Wrapped Cardano and Litecoin Tokens

Coinbase has integrated Cardano's ADA and Litecoin onto its ethereum layer-2 network Base through wrapped tokens cbADA and cbLTC. These assets are fully collateralized by their native counterparts held in Coinbase custody, with minting and burning executed at a 1:1 ratio. Reserve audits will provide transparency.

Over 11,300 wrapped LTC and 2.9 million wrapped ADA have already entered circulation on Base. The exchange previously enabled similar cross-chain functionality for Bitcoin, Ethereum, XRP and Dogecoin, building one of LAYER 2's most diverse asset ecosystems.

Wrapped tokens bridge blockchain interoperability gaps. While ADA and LTC operate on separate networks, their wrapped versions unlock Ethereum-compatible DeFi applications - from yield farming to decentralized trading - without requiring holders to liquidate original positions.

With Base's TVL surpassing $3 billion, protocols may introduce liquidity incentives for these new assets. The MOVE signals growing institutional recognition of multi-chain interoperability as a catalyst for decentralized finance adoption.