Bitcoin holders are increasingly borrowing on the Base platform, with $1.6 billion borrowed primarily by Coinbase customers through decentralized finance lending platforms. This surge in activity is facilitated by the use of tokenized Bitcoin, notably Coinbase’s cbBTC, as collateral. Loans are facilitated through protocols like Morpho and Aave, without direct user involvement. This trend highlights Base’s growing role as a major platform for Bitcoin-backed borrowing in the DeFi ecosystem.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
