LTC’s DeFi Leap: Coinbase Bridges Litecoin to Ethereum with cbLTC on Base

Coinbase has taken a significant step in expanding DeFi accessibility for Litecoin (LTC) holders by launching cbLTC, a wrapped version of LTC, on its Ethereum Layer-2 chain Base. This ERC-20 token, fully backed 1:1 by LTC held in Coinbase custody, allows Litecoin users to seamlessly participate in Ethereum-based DeFi ecosystems without relying on third-party bridges. As of 10:40 a.m. IST on 26 June 2025, Coinbase's dashboard reported 11,364 LTC held in reserve, backing 11,305 cbLTC tokens. This move not only enhances liquidity for LTC but also positions it as a more versatile asset in the rapidly growing DeFi space. The integration of cbLTC on Base could potentially drive increased adoption and demand for Litecoin, as it now gains exposure to Ethereum's robust DeFi ecosystem. This development marks a pivotal moment for LTC, as it bridges the gap between Bitcoin's original fork and the innovative world of Ethereum-based decentralized finance. The launch aligns with Coinbase's broader strategy to foster interoperability and accessibility across blockchain networks, further solidifying Litecoin's relevance in the evolving cryptocurrency landscape.

Coinbase Launches Wrapped Litecoin (cbLTC) on Base, Expanding DeFi Access

Coinbase has introduced cbLTC, a wrapped version of Litecoin, on its ethereum Layer-2 chain Base. This ERC-20 token is fully backed 1:1 by LTC held in Coinbase custody, enabling Litecoin holders to seamlessly participate in Ethereum-based DeFi ecosystems without relying on third-party bridges.

As of 10:40 a.m. IST on 26 June 2025, Coinbase's dashboard reported 11,364 LTC held in reserve, backing 11,305 cbLTC tokens. Nearly all of these tokens are concentrated in a single wallet, highlighting early institutional interest.

The MOVE marks Litecoin's formal entry into DeFi's liquidity pools. Holders can now deploy cbLTC across platforms like Uniswap, Aerodrome, and PancakeSwap—transforming what was primarily a payments token into a yield-bearing asset.

Coinbase simultaneously launched cbADA, bringing similar functionality to Cardano's ADA. Both developments signal the exchange's strategy to bridge non-Ethereum assets with DeFi's most active ecosystem.

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 the introduction of cbADA and cbLTC. These wrapped tokens are fully backed by their underlying assets held in Coinbase custody, with minting and burning conducted at a 1:1 ratio. Regular proof-of-reserves audits ensure transparency.

Over 11,300 wrapped LTC and 2.9 million wrapped ADA have already been minted on Base, signaling strong initial adoption. The move follows Coinbase's earlier additions of wrapped Bitcoin, Ether, XRP, and Dogecoin, solidifying Base's position as a leading cross-chain ecosystem in the layer-2 space.

Wrapped tokens bridge interoperability gaps, enabling ADA and LTC holders to participate in Ethereum-based DeFi activities like yield farming and trading without liquidating their original holdings. Base's TVL now exceeds $3 billion, with ecosystem projects likely to offer liquidity incentives for these new assets.

Cryptocurrency Market Rally and Cloud Mining Trend

Bitcoin surged past $107,000 amid Middle East ceasefire developments and clearer US regulatory signals, sparking a broad crypto rally. XRP gained over 10% to break $2.18, with analysts noting similarities to its pre-breakout pattern in early 2024. Dogecoin mirrored the momentum with a double-digit percentage increase, while Solana, Ethereum, and Litecoin also strengthened as capital rotated back into major digital assets.

Cloud mining emerges as a focal point for investors seeking passive exposure. "We're seeing a strategic shift from speculation to yield generation," stated a BAY Miner representative, positioning their mobile platform as a simplified gateway to cryptocurrency mining. The service promises to eliminate technical barriers and upfront costs associated with traditional mining operations.