Coinbase Expands Cardano’s Reach with Wrapped ADA (cbADA) on Base Network

Cardano's ADA token is gaining significant momentum as Coinbase introduces cbADA, a wrapped version of ADA, on Ethereum's Layer 2 network Base. This development marks a pivotal moment for ADA, enabling its integration into Ethereum-based DeFi ecosystems like Uniswap and PancakeSwap. Each cbADA token is fully backed by ADA held in Coinbase custody, with transparent proof-of-reserves ensuring trust and security. This move not only enhances ADA's utility but also signals a potential trend reversal for the cryptocurrency. As of June 27, 2025, the crypto community is buzzing with Optimism about Cardano's expanded capabilities and its growing presence in the decentralized finance space.

Cardano Gains Momentum as Coinbase Launches Wrapped ADA on Base Network

Cardano's ADA token shows signs of a potential trend reversal following Coinbase's introduction of cbADA, a wrapped version of ADA on Ethereum's LAYER 2 network Base. Each cbADA token is fully backed by ADA held in Coinbase custody, with transparent proof-of-reserves.

The move significantly expands ADA's utility, enabling participation in Ethereum-based DeFi protocols like Uniswap and PancakeSwap—capabilities previously unavailable natively on Cardano. Market observers note this integration could drive increased liquidity and cross-chain activity.

Further bullish momentum may come from Cardano's upcoming privacy-focused sidechain Midnight, which plans to distribute its NIGHT governance token through an airdrop campaign. The requirement for network interaction to claim tokens is expected to temporarily boost on-chain metrics.

Bitcoin Recovers to $107K—Will U.S. Data Trigger New Volatility?

Bitcoin (BTC) has rebounded above $107,000 following a week of significant volatility, fueled by geopolitical tensions and shifting market sentiment. The cryptocurrency's recovery underscores its resilience as investors pivot back to risk assets amid easing Middle East tensions.

The rally extends beyond crypto, with U.S. equities and Coinbase shares surging 12% after regulatory progress in Europe. Market observers note a clear shift in tone—"War drums fade, risk appetite roars," as QCP Capital's analysis puts it—with Bitcoin now challenging its all-time highs once more.

All attention now turns to upcoming U.S. economic indicators and futures expiry, potential catalysts for the next major price movement. The market's rapid sentiment reversal highlights crypto's growing role as a barometer for global risk appetite.

Coinbase Warns ADA, LTC Holders Over Wrapped Tokens on Base

Coinbase has issued a cautionary alert to Cardano and Litecoin investors regarding the launch of wrapped tokens on its Base Layer-2 blockchain. The new cbADA and cbLTC tokens, designed to bridge ADA and LTC into Base's ecosystem, are backed 1:1 by reserves. However, the exchange warns of potential fraudulent imitations.

The initiative aims to expand DeFi utility for these assets, mirroring previous wrapped token launches for Bitcoin, Ethereum, XRP, and Dogecoin. Base's rapid growth underscores Coinbase's push to enhance cross-chain functionality while mitigating risks for users navigating this evolving landscape.

Cardano Price Prediction: Will ADA Hit $2 After Midnight Airdrop Buzz?

Cardano's ADA has been trading around $0.57, a 55% drop from its Q4 2024 peak of $1.33. Despite the bearish trend, market sentiment is shifting toward optimism due to heightened ecosystem activity and institutional backing. Social media erupted with over 200,000 mentions of Cardano on X this week, fueled by the Midnight Glacier airdrop.

The launch of Coinbase's cbADA on Base, its Layer 2 network, further bolsters bullish momentum. This wrapped version of ADA could expand its utility across DeFi protocols. Analysts project a potential rally to $2, though ADA remains confined to a descending channel for now.

Whales, Insider Wallets Drain $6M From TRUMP Coin, Collapses 90%

The TRUMP meme coin faces a severe liquidity crisis after coordinated withdrawals by insiders and early team members. Over $6 million in TRUMP tokens and USDC were abruptly pulled from liquidity pools, with funds bridged to ethereum and deposited on Coinbase. The lack of communication from the team has fueled suspicions of an exit scam.

On-chain data reveals a wallet linked to the Trump Meme Team moved 347,337 TRUMP (~$3.12M) and 4.4M USDC (~$4.4M) from the Metrona pool. A separate solana wallet dumped 275,672 TRUMP (~$2.49M) shortly before the team's withdrawal, suggesting premeditated action. The coin has plummeted 90% from its all-time high.

Coinbase Stock Eyes Record Close Amid Regulatory Tailwinds

Coinbase shares surged 5% to $375 at Thursday's open, poised to eclipse their November 2021 record close of $357. The crypto exchange's stock has rallied 50% year-to-date as regulatory developments fuel institutional optimism.

Benchmark analyst Mark Palmer highlights the CLARITY Act as a potential game-changer, noting its passage could 'usher in a wave of institutional adoption.' Senator Cynthia Lummis aims to advance draft legislation before August recess, with September markup targeted.

The rally coincides with Circle's IPO momentum and progress on stablecoin legislation, creating a perfect storm for Coinbase's multifaceted business lines. Regulatory clarity appears to be the rising tide lifting all crypto boats.