BTC
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+
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ETH
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+
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USDT
$1.0004
–
0.00%
XRP
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+
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BNB
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+
0.30%
SOL
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–
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USDC
$0.9999
+
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TRX
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–
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DOGE
$0.1655
–
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ADA
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–
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HYPE
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+
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+
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+
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SUI
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–
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LINK
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–
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–
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–
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TON
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–
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SHIB
$0.0₄1169
–
0.10%
By Shaurya Malwa|Edited by Parikshit Mishra
Jun 26, 2025, 7:14 a.m.
- Coinbase has launched cbADA and cbLTC on its Ethereum layer-2 network Base, enabling Cardano and Litecoin holders to access the DeFi ecosystem.
- These wrapped assets are backed one-to-one by ADA and LTC in Coinbase custody, with regular proof-of-reserves.
- Over 11,300 wrapped LTC and 2.9 million wrapped ADA are already circulating on Base, which has a total value locked of over $3 billion.
Coinbase has introduced cardano’s ADA
and litecoin
on its Ethereum layer-2 network Base via cbADA and cbLTC.
These assets are fully backed by ADA and LTC locked in Coinbase custody, minted and burned on demand at a one-to-one ratio, with regular proof-of-reserves to back up the claims. Data shows over 11,300 wrapped LTC and 2.9 million wrapped ADA have already been minted on Base and are actively circulating.
La Suite Ci-Dessous
Coinbase has previously issued versions of bitcoin
, ether
, XRP
, and dogecoin (
on Base, creating one of the most comprehensive cross-chain ecosystems in layer 2.
Wrapped tokens solve the interoperability puzzle. ADA and LTC are native to other blockchains and cannot be directly used on Ethereum or dependent layer 2s, such as Base.
However, using wrapped tokens allows holders and users to interact in onchain activities like yield farming, liquidity pools, trading, and lending — all without selling their original tokens.
Base’s total value locked (TVL) is just over $3 billion as of Thursday, and ecosystem projects may offer liquidity mining incentives for these newer assets to capture value (and make fees in the process).
Read more: Coinbase Unlocks DeFi Opportunities for XRP and Dogecoin Holders on Base
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
