Coinbase has launched cbBTC, a token that integrates bitcoin into the Solana blockchain, potentially revitalizing decentralized finance (DeFi) on the platform. This introduces a crucial financial functionality previously lacking since the collapse of FTX and the subsequent demise of soBTC, the last bitcoin standard on Solana. cbBTC will allow traders to easily swap between this bitcoin-backed token and their Solana wallets, which many hope will increase DeFi activity across Solana's protocols. Currently, cbBTC has around $10 million ready for deployment in Solana DeFi, with additional liquidity already circulating in trading pools. As Coinbase had previously focused more on Ethereum, this marks a significant expansion into the Solana ecosystem. While the hopes are high for cbBTC to become the standard for bitcoin on Solana, competing tokens have struggled to achieve comparable traction. If successful, cbBTC may enhance overall liquidity and activity in Solana's DeFi landscape, particularly as bitcoin approaches new all-time highs amidst recent market shifts.

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