Bitcoin holders are actively leveraging the Base platform to secure loans, with the total volume of borrowed funds reaching $1.6 billion. The activity is primarily driven by Coinbase customers who utilize decentralized finance lending protocols to access capital.
The process relies on tokenized Bitcoin, specifically Coinbase’s cbBTC, which serves as collateral. Users route their assets through platforms such as Morpho and Aave to manage their positions without needing direct interaction with the underlying protocols.
This trend underscores the expanding utility of Base as a hub for Bitcoin-backed lending. Market participants are currently tracking protocol parameters, including collateral requirements and liquidation exposure, to gauge the platform's ongoing development.
Recent data also highlights broader activity on the network, with tokenized stocks on Base reaching $262 million. Additionally, Coinbase-issued tokenized stocks generated $1.5 billion in DEX volume over the last 30 days, marking a 313 percent increase compared to the previous period.
