According to the latest report from Coin Metrics, tokenized Bitcoin is rapidly expanding the usefulness of BTC. WBTC and cbBTC are currently locked in over 172,000 bitcoins. WBTC still dominates, holding about 129,000 bitcoins (81%), while Coinbase issued cbBTC has grown rapidly, accounting for 19%, distributed on the Ethereum, Base and Solana chains.
The data shows that cbBTC is the most active on the Base chain, with an average daily active address of about 7000, and the average weekly transfer volume is as high as 40 billion US dollars. In the DeFi field, the two tokens together exceed 7 billion US dollars locked in Aave, Morpho and other lending protocols. WBTC dominates Ethereum DEX transactions, while cbBTC is prominent in the Base chain.
Experts point out that while tokenized bitcoin poses varying degrees of centralization risk, it is becoming an important bridge to connect bitcoin's store of value function with the programmable economy.
Data: Tokenization of Bitcoin is Expanding the Utility of BTC, WBTC and cbBTC Combined Lock Over 172,000 Bitcoins
2025-06-03 14:15:47
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