What is Coinbase Wrapped BTC (CBBTC)?
Coinbase Wrapped BTC ("cbBTC") is a token that is backed 1:1 by native Bitcoin (BTC) held by Coinbase, meaning that for all cbBTC in circulation, there is an equivalent amount of BTC held in a secure custody solution (including cold storage) provided by Coinbase. Wrapped assets, like cbBTC, are transferable tokens that are redeemable for the underlying asset. Coinbase customers can unwrap cbBTC and redeem a corresponding amount of the underlying BTC simply by depositing the cbBTC into their Coinbase accounts.
How does Coinbase Wrapped BTC work?
cbBTC is built to be seamlessly compatible with DeFi applications, giving customers the option to tap into DeFi and unlock financial utility. cbBTC removes a key point of friction by allowing customers to use Bitcoin they already hold in new ways onchain. cbBTC is built to be seamlessly compatible with DeFi applications, so users can now tap into novel DeFi use cases like providing their Bitcoin as liquidity to DeFi protocols, using it as collateral to borrow other crypto assets, or spending it as a payment method.
What is Coinbase Wrapped BTC used for?
Wrapped assets like cbBTC are a mature concept in the crypto world, helping to bring more liquid assets onchain and facilitate an expansive financial ecosystem.
Where can you buy Coinbase Wrapped BTC?
Coinbase Wrapped BTC (CBBTC) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for CBBTC sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
You can open the Markets section above to see the live list of exchanges quoting CBBTC, sorted by 24-hour volume. Each row links to the venue's trade page so you can go directly from research to execution without copying the ticker around by hand.
What is the daily trading volume of Coinbase Wrapped BTC (CBBTC)?
The reported 24-hour trading volume of Coinbase Wrapped BTC is $355.78M. Volume is a live reading of how much CBBTC changed hands across all tracked exchanges in the past day and tends to rise during periods of price discovery and fall during consolidation.
For traders, the ratio between volume and market cap is often more informative than either number on its own: a high vol-to-mcap ratio indicates liquid, actively traded supply, while a low ratio suggests that most holders are sitting on the asset.
What is the highest and lowest price for Coinbase Wrapped BTC (CBBTC)?
Coinbase Wrapped BTC reached an all-time high of $125,954.00 on October 6, 2025, and an all-time low of $57,439.00 on September 12, 2024. It is currently trading -35.87% from its peak and +40.63% from its bottom.
The distance from ATH is a useful gauge of recovery potential during a bear market and of stretched positioning during a bull market. Combined with the all-time-low figure it provides a quick statistical frame for thinking about where CBBTC sits in its long-run price range.
What is the market cap of Coinbase Wrapped BTC (CBBTC)?
Coinbase Wrapped BTC's market capitalization is currently $6.62B, and it is ranked #9999 by market cap on Cryptopricing. Market cap is calculated as the current price multiplied by the circulating supply (81.93 thousand CBBTC are actively circulating today).
Market cap is a common but imperfect measure. It reflects the theoretical value of every circulating token at the current market price, but it doesn't capture how thin the top of the order book might be - an important caveat for tokens with low floats or illiquid cap tables.
What is the fully diluted valuation of Coinbase Wrapped BTC (CBBTC)?
The fully diluted valuation (FDV) of Coinbase Wrapped BTC is $6.62B. FDV is a projection of what the market cap would be if every token that will ever exist - including those that have not yet been unlocked, mined or issued - were in circulation at the current price.
FDV is a useful second reading alongside market cap. A large gap between mcap and FDV signals that future token emissions could dilute current holders, while a small gap indicates that supply is already mostly out.
How does the price performance of Coinbase Wrapped BTC compare against its peers?
Over the past 24 hours, Coinbase Wrapped BTC has moved +0.12%. Over the past seven days, the change is -1.95%. Comparing these figures to the global crypto market cap change (shown in the ticker at the top of this page) tells you whether CBBTC is leading, lagging or tracking the broader market.
For deeper analysis, the categories strip on the home page groups coins by theme - Layer 1, Meme, DePIN, AI, RWA and so on - and lets you compare Coinbase Wrapped BTC against its closest peers. The category detail pages surface the underlying coins and their seven-day sparklines in a single view.
How to store Coinbase Wrapped BTC?
Like any crypto asset, the right way to store CBBTC depends on how often you plan to use it. Long-term holders typically self-custody using a hardware wallet such as Ledger or Trezor, which keeps private keys offline and immune to most remote attacks.
For active traders, a reputable custodial exchange wallet can be appropriate, especially one with clear proof-of-reserves attestations. Whatever approach you choose, the most important rule is to keep your recovery phrase offline, never share it, and never enter it into a web form or attached to a DM - no legitimate support agent will ever ask for it.
