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Chainlink's CCIP Powers $16B Wrapped Bitcoin Ecosystem

Guavy AI Editorial Team
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Chainlink's Cross-Chain Interoperability Protocol (CCIP) has reached a significant milestone in its Wrapped Bitcoin ecosystem, valued at over $16 billion. This marks a substantial market presence for Chainlink, capturing a 70% share of wrapped assets across various platforms.

The ecosystem includes BitGo's WBTC with a valuation of $7.5 billion and Coinbase's cbBTC at $6 billion, demonstrating the growing adoption of wrapped Bitcoin in decentralized finance (DeFi).

Chainlink's CCIP enables seamless cross-chain transactions, allowing assets to move and interact across different blockchains, which could redefine the role of Bitcoin in DeFi.

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