Solana

Drift

Wormhole

Portal

ERC20

<h4><strong>$WBTC, originally an <a href="https://www.altcoinbuzz.io/?s=erc-20+tokens" target="_blank" rel="noopener">ERC-20 token</a> representing Bitcoin on Ethereum, now extends its utility to Solana, enabled by the Wormhole protocol.</strong></h4> 
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    <p>This integration allows $WBTC to be utilized across various Solana-based platforms, such as Drift Protocol, Kamino Finance, and Orca’s Exchange. It enhances liquidity and accessibility within Solana’s decentralized finance landscape.</p> 
    <h5><strong>$WBTC Integration Boosts Solana DeFi Access</strong></h5> 
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   $WBTC serves as a pivotal bridge between Bitcoin and decentralized finance, offering the transparency and verifiability of Bitcoin within the ERC20 framework. Through <a href="https://x.com/wormhole" target="_blank" rel="noopener">Wormhole’s Portal</a>, the process involves locking the original $WBTC tokens in an Ethereum smart contract while minting equivalent $WBTC tokens on Solana.
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 <img decoding="async" class="wp-image-143912 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvxfdfdgfg-259x300.jpg" alt="" width="458" height="531" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvxfdfdgfg-259x300.jpg 259w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvxfdfdgfg-363x420.jpg 363w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvxfdfdgfg.jpg 393w" sizes="(max-width: 458px) 100vw, 458px">
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<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/wormhole/status/1805277312533012666" target="_blank" rel="noopener">X</a></strong></h6> 
<p>This mechanism ensures a seamless transition of $WBTC functionality from Ethereum to Solana, enabling users to leverage Bitcoin’s value and liquidity efficiently on both blockchains.</p> 
<p>Initially designed to integrate Bitcoin into Ethereum’s DeFi ecosystem, $WBTC’s adoption of <a href="https://www.altcoinbuzz.io/?s=solana" target="_blank" rel="noopener">Solana</a> through Wormhole now extends its utility and liquidity to Solana’s growing community.</p> 
<p><img decoding="async" class="wp-image-143913 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cbfdrgrey-224x300.png" alt="" width="439" height="588" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cbfdrgrey-224x300.png 224w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cbfdrgrey-313x420.png 313w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cbfdrgrey.png 393w" sizes="(max-width: 439px) 100vw, 439px"></p> 
<h6 style="text-align: center;"><strong>Source: </strong><a href="https://x.com/wormhole/status/1805277358934643166" target="_blank" rel="noopener"><strong>X</strong></a></h6> 
<p>The <a href="https://x.com/portalbridge_" target="_blank" rel="noopener">Portal bridge</a> facilitates smooth asset transfers between Ethereum and Solana, unlocking approximately $150,000 in $WBTC liquidity for multichain transactions within the Solana network. This integration not only broadens $WBTC’s utility but also reinforces Solana’s position as a vibrant hub for decentralized finance innovations.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone size-full wp-image-123700" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/wbtc-expands-to-solana-via-wormhole/">$WBTC Expands to Solana via Wormhole</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

$WBTC Expands to Solana via Wormhole

Altcoin Buzz

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