The cbBTC token developed by Coinbase has reached an important milestone by exceeding 40,000 tokens in circulation. This growth indicates increasing engagement in the decentralized finance (DeFi) space.
Achievement of a New Milestone for cbBTC
Coinbase announced that cbBTC recently reached a new record by surpassing the noted threshold of 40,000 tokens as of May 18, 2025. Data from Dune Analytics confirmed a total supply of 40,884 cbBTC. This highlights significant success for cbBTC in the wrapped Bitcoin sector.
Impact on DeFi and Ethereum
The rise in cbBTC circulation signifies its growing adoption on DeFi platforms. Under CEO Brian Armstrong, Coinbase continues to actively promote Bitcoin's engagement within the Ethereum ecosystem. This leads to increasing interest and demand for Bitcoin’s versatility in decentralized finance. 'Surpassing 40,000 tokens underscores the growing adoption within the DeFi ecosystem,' said Brian Armstrong, CEO and Co-Founder of Coinbase.
Growth Prospects for the Token
The increase in cbBTC directly affects the Ethereum network, where cbBTC operates as an ERC-20 token. The increased supply is likely to enhance DeFi liquidity and trading for protocols that integrate cbBTC pairs. Historical trends indicate that rises in wBTC supply often correlate with heightened DeFi interest, suggesting potential further adoption.
The achievement of cbBTC's 40,000 token milestone highlights the significance of this asset in the evolving DeFi landscape, where its role continues to grow.
