Coinbase has listed BOB, a Bitcoin DeFi token, and the price is up about 25% from its launch, putting fresh attention on BTC-focused decentralized finance. The token debuted at $0.018 on Nov. 20, implying roughly a $45 million market cap at launch.
![\"BOB](\"https://cdn.thedefiant.io/pasted-1763763757176-png-e81f0924-adf2-4e39-af79-eb7bc5beb6b7.png\")
By the numbers
- Launch price: $0.018 per BOB
- Launch market cap: ~$45 million
- Current move: ~25% above the debut price
- Context: Among the few tokens posting gains over the last 24 hours
The rally arrived shortly after the Coinbase listing announcement, a catalyst that often boosts liquidity and visibility for newly tradable assets.
What is BOB trying to build?
Build on Bitcoin (BOB) describes itself as an optimistic rollup chain focused on Bitcoin DeFi (sometimes called BTCFi). A rollup processes many transactions off the main blockchain and then settles them in batches, aiming for lower fees and faster speeds.
BOB says it will work with DeFi projects to incubate and launch BTC yield products that use native Bitcoin instead of wrapped versions on other chains. In simple terms: the project wants BTC held on BOB to act as a shared trust layer that links familiar DeFi tools with the Bitcoin network.
Why this matters
Investors have been hunting for Bitcoin-native yield as interest in Bitcoin Layer 2s and BTC-centric applications grows. If BOB can reliably connect DeFi strategies to real BTC, it could draw users who prefer to avoid wrapped assets and the extra bridge risk they bring.
The listing also highlights the ongoing appetite for new Bitcoin infrastructure during a choppy market. Visibility on a major U.S. exchange can accelerate early price discovery, but it also tends to increase volatility.
Airdrop backlash surfaces
Not everyone is cheering. Some community members say the airdrop criteria shut out loyal users. One farmer who said they had about $7,000 in the ecosystem over a year and millions of in-app points claimed they were still ineligible, voicing frustration on X. See the discussion from this user and the project's account @build_on_bob.
Airdrop disputes are common in crypto. They can dent community trust if early users feel overlooked, even as listings pull in a new wave of traders.
What to watch next
- Liquidity and spreads on Coinbase pairs as volume builds.
- Clarity on airdrop eligibility and any follow-up distributions.
- Progress on BTC-native yield products and partner integrations.
- How BOB manages security and settlement between its rollup design and the Bitcoin base layer.
Bottom line: BOB's fast start shows that the Bitcoin DeFi narrative still has legs. Now the project needs to prove it can deliver BTC-native yield safely while calming airdrop concerns.