Coinbase has wrapped up BTC production and reached a market cap of 1B
Amid Solana's price hike and growth in the DeFi sector, the recently launched Coinbase Wrapped BTC (cbBTC) product on the Solana blockchain has reached the $1 billion market capitalization milestone. cbBTC is an SPL token backed 1:1 by Bitcoin (BTC) and held by the exchange. cbBTC joins the growing list of capped Bitcoin tokens on Solana, including tBTC and WBTC. SOL's price has risen by double digits over the past seven days, fueled by the BTC bull run. Thus, SOL rose to $198, which is 23% below its all-time high (ATH).
