Base Gains traction following cbBTC launch
This is a Arbitrum news story, published by CoinGape, that relates primarily to Bitcoin news.
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Coinbase L2 networkCoinGape
•Layer 2 Network Base Set To Shine As Coinbase Launches cbBTC
71% Informative
Layer 2 Base is set to gain more traction following the launch of the cbBTC token on the network.
Base is already ahead of other layer-2 networks like Arbitrum and Optimism in weekly transactions and new users.
The cbCBTC token will be backed 1:1 by Bitcoin held by the crypto exchange.
This development is expected to increase engagement on Base as Bitcoin holders explore the decentralized finance landscape on the layer 2 network.
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