Coinbase, the leading US-based cryptocurrency exchange, has announced that its wrapped version of Bitcoin (cbBTC) will be available on the Solana blockchain. During the Solana Breakpoint 2024 event, Coinbase executive Hasan Ahmed expressed excitement about introducing cbBTC to Solana, stating that users have shown a strong preference for the platform. Coinbase’s Ethereum layer-2 solution, Base, which aims to simplify application development by reducing gas fees, recently launched cbBTC. This Ethereum-based token allows Bitcoin holders to access decentralized finance (DeFi) protocols on both Base and Ethereum blockchains. Coinbase has ensured that cbBTC is compatible with popular DeFi protocols such as Aave, Curve Finance, and Compound Finance. The market cap of cbBTC has surged to $171 million, up from $97 million in mid-September. At the time of writing, Bitcoin’s market cap is $63,718 with a 1.21% increase in the last 24 hours.