cbBTC’s market value exceeds $1 billion, equivalent to 9.3% of WBTC’s supply
On November 13th, former 21.co strategist Tom Wan stated on X platform that the market value of cbBTC rapidly reached $1 billion within 57 days, and its net supply change speed on Ethereum has exceeded other Bitcoin liquidity staking tokens (LSTs) including eBTC, solvBTC.BBN, and pumpBTC. Currently, the supply of cbBTC has reached 9.3% of the WBTC supply.
As of November 8th, the total market value of cbBTC reached $1.04 billion, with Ethereum network having the largest proportion of supply at $855 million, Base network at $176 million, and Solana at $10.3 million. Currently, the supply of cbBTC is equivalent to 9.3% of the WBTC supply.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Surges to New All-Time High as Crypto All-Stars Presale Hits $20M
MicroStrategy Buys $1.5B in Bitcoin, Raising BTC Holdings at 439K
The company's BTC holdings are now worth over $46.7 billion at current prices
Bitcoin Hit a New ATH Above $107K, as BTC ETFs Recorded 13 Consecutive Inflow Days
Since November 27, BTC ETFs recorded almost $6 billion in inflows, amidst rising institutional interest
AAVE drops below $360