Coinbase’s cbBTC Supply Reaches New Heights, Market Impact Grows – Coincu

Coinbase’s wrapped Bitcoin token, cbBTC, achieved a circulating supply of 33,038 tokens on April 20, 2025.

This marks a significant shift in market share within the wrapped Bitcoin ecosystem.

Coinbase’s cbBTC Achieves 20% Market Share Milestone

Coinbase reported that the cbBTC token circulation reached 33,038, a notable increase. The market value stands at approximately $2.81 billion. This marks an impressive growth in wrapped Bitcoin dominance for Coinbase’s offering.

The increase in cbBTC supply has impacted volatility within the wrapped Bitcoin sector. Market share for cbBTC rose to nearly 20%, while wBTC’s percentage dropped to 75.7%.

Brian Armstrong, CEO of Coinbase, although there were no direct quotes available, is leading Coinbase in promoting the liquidity of Bitcoin through wrapped tokens, suggesting a focus on expanding market positions within the crypto ecosystem.

There are no direct comments from Coinbase executives concerning this supply change. However, the data indicates an increasing trust in Coinbase’s financial products.

cbBTC Price and Circulation See Notable Changes in April 2025

Did you know? The rise in cbBTC marks the first time a U.S.-regulated entity, Coinbase, captured such a substantial market share in the wrapped Bitcoin domain.

The Coinbase Wrapped BTC (Symbol: CBBTC) is valued at $84,423.86, with a market cap of $3.04 billion. A trading volume of $79.18 million marks a 27.84% increase. Recent price movements include a 0.83% rise over 30 days but a decrease of 19.75% over 90 days. Data from CoinMarketCap.

Expert analysis suggests cbBTC’s growth aligns with an increasing demand for regulated and trusted custodial crypto assets. The Coincu research team highlights a potential gradual shift in the DeFi landscape as a response to cbBTC’s adoption.