Wrapped Bitcoin (cbBTC) launched by Coinbase has shown strong performance in on-chain data. According to Dune data, as of November 17, the circulating supply of cbBTC has reached 15,070. On the Ethereum chain, cbBTC accounts for 16.3%, while on the Base chain it accounts for as much as 82%. At present, the market value of cbBTC has exceeded 1.3 billion US dollars, showing the market's high recognition and demand for this crypto asset. This trend shows that wrapped Bitcoin has great potential for application in the multi-chain ecosystem.