My people, grab your coffee because I've got the hot gossip for you! 🔥 Coinbase, which is like the big daddy of exchanges in the United States, has just turbocharged its Base platform, the one that lives within Ethereum. And what happened? Well, they welcomed Cardano (ADA) and Litecoin (LTC) to the party of 'wrapped' tokens.
This is not just any gossip, this has a lot to unpack! Imagine that your ADA and LTC can now move with the agility of a salsa dancer in the decentralized finance (DeFi) ecosystem of Ethereum. Why is this big news? Because Coinbase created these 'wrapped' versions (cbADA and cbLTC) that are like a mirror of the original tokens: if you have a cbADA, you have an ADA stored 1 to 1, it's that simple! This means that if you previously had your ADAs sitting still, now you can use them in famous protocols like Aave, Compound, or Curve. It's like they've given wings to your cryptos! 🦋
And it doesn't stop there, because they had already done the same with Dogecoin (DOGE) and XRP, and since last September with Bitcoin (BTC). In other words, Coinbase is weaving an ever-growing network so that your cryptocurrencies can understand each other, regardless of which blockchain they are on. It's a giant step for the crypto world to be easier to use and less tangled.
It seems people are already taking advantage, as about $2.5 million in LTC and ADA have been moved in this new modality, and this has just begun! And to top it off, Coinbase (COIN) stocks are flying! They rose almost 6% and are flirting with record prices. It seems people are giving a vote of confidence to this move to bring the crypto world to everyone.
So the table is set, now let's see who eats the cake... Ready to get the most out of your ADA and LTC in the DeFi world of Ethereum? This is heating up, so don't rest on your laurels! 👀$ADA $DOGE $LTC
