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Coinbase Launches Crypto Price Oracle

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DeFi Oracle

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  • Coinbase’s Oracle will provide trustworthy price data to be used in DeFi applications

Coinbase has launched the Coinbase Oracle, which is basically a feed of cryptographically secured price data that can be used on decentralized finance (DeFi) platforms. Currently, price data for Bitcoin versus USD and Ethereum versus USD is available.

DeFi platforms require accurate crypto price data for a variety of applications including liquidating debt positions, algorithmic stablecoins, and the construction of novel crypto derivatives. Up until now DeFi price oracles have generally been from decentralized exchanges (DEXs). and this data was often choppy and not reflective of the actual crypto market due to lack of liquidity on DEXs.

Further, crypto price oracles have been hacked in the past, leading to hackers stealing money out of DeFi platforms and disenfranchising other users.

The Coinbase Oracle on the other hand uses data from Coinbase, which has high liquidity and therefore far more reflective of the crypto market. Also, the Coinbase Oracle is highly secured, to prevent hackers from manipulating the data.

Zooming out, this is yet another milestone in Coinbase’s integration with the DeFi sector. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

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