Coinbase launched cbMEGA, an ERC-20 token backed 1:1 by MegaETH (MEGA) held in Coinbase custody, on the Base network on April 30. MEGA holders can now convert their tokens on Base at a 1:1 ratio and participate in Base’s DeFi ecosystem without leaving this environment. The token is already integrated with several major DeFi protocols, including Aerodrome, 1inch, and CoW Swap. The circulating supply of cbMEGA stands between 17 and 26 million tokens, with an estimated market capitalization between $650,000 and $850,000. cbMEGA is part of Coinbase’s broader strategy that already includes wrapped assets such as cbBTC, cbETH, cbXRP, cbDOGE, cbADA, and cbLTC.
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