cbBTC circulation supply exceeds 40,000, and the market share of packaged Bitcoin has expanded to 22.7%

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On May 18, according to Dune data, the circulating supply of Coinbase Wrapped BTC (cbBTC) launched by Coinbase first exceeded 40,000 units, currently reported at 40,884, with an increase of over 1,900 units in the past month.

The current market value of cbBTC is approximately $3.89 billion, with its market share in the wrapped Bitcoin market continuously expanding, currently holding a 22.7% market share, second only to wBTC.

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