The wrapped Bitcoin cbBTC launched by Coinbase has performed well on-chain. According to Dune data, the circulating supply of cbBTC has reached 16,120 coins, with 16.9% on the Ethereum chain, a staggering 81% on the Base chain, and 2.1% on the Solana chain. The current market capitalization is approximately 1.58 billion dollars. It is noteworthy that Coinbase recently announced that cbBTC has gone live on Arbitrum, and users can now perform transfer operations on that platform. This development injects new vitality into the crypto market.