Crypto Traders Holding XRP
And Dogecoin can now take advantage of decentralized finance opportunities (defi) performance generators at the base, the block chain of layer 2 of the digital asset exchange coinbase (COIN).
On Wednesday, the exchange of the Nasdaq list said that the wrapped versions of the two tokens, called CBXRP and CBDOGE, were live at the base. These wrapped chips are backed 1: 1 for native currencies, which means that for all CBXRP and CBDOGE in circulation, there is an equivalent amount of XRP or Dogecoin in a solution of safe custody per coinbase.
The wrapped tokens represent the original assets in environments where they are not otherwise available, offering compatibility with the base protocol and defi applications. This facilitates interoperability, allowing the perfect transfer of currencies within the ecosystem while allowing holders to define and generate additional yields at the top of their spot market holdings.
The wrapped version of XRP has achieved a market capitalization of more than $ 5 million in the first 24 hours, according to Data Source Bases. The wrapped Doge market capitalization is quickly approaching the $ 2 million brand.
XRP is a cryptocurrency focused on payments used by Ripple to facilitate cross -border transactions and has a market capitalization of $ 128.8 billion, which makes it the fourth largest cryptocurrency. Dogecoin, with a market value of $ 28.2 billion, is the world’s leading memes token by market value, according to Coindesk data.
Coinbase debuted a wrapped version of Bitcoin
The largest cryptocurrency, at the base in September last year. That has reached a market capitalization of more than $ 4.7 billion.
