cbBTC Circulation Surpasses 40,000 BTC: A Boon for DeFi and Ethereum

Coinbase’s wrapped Bitcoin token, cbBTC, has reached a significant milestone by surpassing 40,000 in circulation. This data, confirmed on May 18, 2025, according to Dune Analytics, demonstrates substantial growth within the wrapped Bitcoin sector and signals increased adoption of DeFi platforms. The increase is attributed to rising demand for Bitcoin’s versatility within Ethereum-based decentralized finance (DeFi) applications. 40,884 cbBTC circulating tokens indicate a strong position for cbBTC as a major player in the market. This development impacts both Bitcoin and Ethereum ecosystems directly.