As of April 2nd, COINOTAG News reports that the circulating supply of Coinbase Wrapped BTC (cbBTC) has surged to 33,038 coins, according to data from Dune Analytics. This represents a significant monthly increase of over 4,500 coins, reflecting growing utilization within cryptocurrency portfolios. With a current market capitalization of approximately $2.815 billion, cbBTC holds a robust position in the market, capturing an impressive 18.8% of the wrapped Bitcoin sector, thus securing its status as the second-largest wrapped Bitcoin asset, trailing only behind wBTC. This remarkable growth signals heightened interest in wrapped Bitcoin solutions, reinforcing their viability as critical instruments for investors seeking to leverage Bitcoin’s value within decentralized finance (DeFi) ecosystems.
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