cbBTC Market Cap Surpasses $1 Billion, Already Equal to 9.3% of WBTC Supply

On Nov. 13, former 21.co strategy analyst Tom Wan said on the X platform that cbBTC's market capitalization has quickly reached $1 billion in 57 days, and that its net supply on Ether has changed at a faster rate than Bitcoin's liquidity pledge tokens (LSTs), including eBTC, solvBTC.BBN, pumpBTC, and others. The current supply of cbBTC has reached 9.3% of the WBTC supply.
As of Nov. 8, cbBTC's total market capitalization reached $1.04 billion, with the ethereum network accounting for the largest share with $855 million in supply, the Base network at $176 million, and Solana at $10.3 million.