Base, the Ethereum layer two (L2) scaling solution supported by Coinbase, has experienced over $175 million funneled into its decentralized finance (defi) protocol since its creation. The majority of value locked comprises 75,244 ether and nearly $26 million worth of the USDC stablecoin. Coinbase’s Base Grows to $175 Million TVL As one of the pioneer…
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Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering its staking-as-a-service program. Redemptions Soar on Coinbase Amidst SEC Lawsuit…
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On Tuesday, the liquid staking firm Alluvial revealed a consortium of organizations will collaborate on the “first enterprise-grade multi-chain liquid staking protocol.” Alluvial’s announcement detailed the protocol will be known as the “Liquid Collective” and the cryptocurrency exchange Kraken has joined as a foundation member. Liquid Collective Aims to Bolster a Multi-Chain Liquid Staking Standard…
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In roughly three days Ethereum is expected to transition from a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) version via The Merge. Ahead of the transition, the liquid staking project Lido has seen a lot more activity as the value locked in the protocol increased by more than 13% this week. Moreover, the project’s…
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The cryptocurrency exchange Coinbase has introduced a new liquid staking ethereum derivative token ahead of Ethereum’s proof-of-stake (PoS) upgrade. The new ERC20 utility token is called coinbase wrapped ethereum, or CBETH, and it will allow people to stake their ether in a non-custodial fashion or trade the tokens on the open market. Coinbase Reveals CBETH…
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