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.
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