cbBTC Price

cbBTC, now a noteworthy entry in the world of digital assets, operates as an ERC-20 token fully backed 1:1 by Bitcoin held in reserve. Essentially, this means that for every cbBTC token in circulation, there is an equivalent Bitcoin secured by its issuer. This pivotal trait grants cbBTC the unique ability to maintain parity with Bitcoin while allowing Bitcoin users seamless access to the expanded functionalities provided by the Ethereum network and Coinbase's layer-2 solution, Base.

One crucial objective of cbBTC is to bridge the considerable gap between Bitcoin, the original cryptocurrency, and the dynamic ecosystem of DeFi, thereby unlocking new opportunities for Bitcoin holders. By allowing users to utilize their Bitcoin without needing to liquidate it, cbBTC represents an essential evolution in the crypto-financial paradigm.