cbBTC’s market value exceeds $1 billion, equivalent to 9.3% of WBTC’s supply

Tom Wan, former 21.co strategy analyst, said on the X platform that cbBTC's market value quickly reached $1 billion in 57 days, and its net supply change rate on Ethereum has exceeded that of Bitcoin Liquid Staking Tokens (LSTs) including eBTC, solvBTC.BBN, pumpBTC, etc. The current supply of cbBTC has reached 9.3% of the supply of WBTC. As of November 8, the total market value of cbBTC reached $1.04 billion, of which the Ethereum network accounted for the largest share, with a supply of $855 million, the Base network was $176 million, and Solana was $10.3 million.