Ethereum Layer 2 Mantle Rolls Out Bitcoin Pegged FBTC, MNT Price Soars 5%

Quick Summary:

Ethereum Layer 2 network Mantle has introduced FBTC, a 1:1 Bitcoin-pegged asset aimed at increasing the usability of Bitcoin in the DeFi space.

The introduction of FBTC is a strategic decision by Mantle to extend its services to the BTC market and offer BTC holders a way to earn yield on their holdings..

FBTC is planned to act as a means of connection between Bitcoin and other blockchain-based financial systems, and decentralized finance.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: IndiaCuba

Topics: Mantle Price 24/7 Cryptocurrency News Ethereum News Ethereum Layer 2

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-14 @ 17:27:57 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 471 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22079958

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Main Topics: Crypto

Official Website: coingape.com

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