September Data Reveals Eight-Month High in Bitcoin Supply Growth on Solana, Propelling Market Cap Beyond $1.04B

Rapid supply expansion and shifting market share among wrapped $BTC tokens

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Wrapped $BTC on Solana is having a breakout moment. September marked the strongest month of growth in the last 8 months, pushing supply to new all-time highs and reshaping the market share among leading tokens.

Record Growth in September

Supply Change Based on Dune data, the supply of wrapped $BTC on Solana reached 9.27K in September, representing a market cap of more than $1.04B. This milestone came after 1,026 $BTC were added during the month, a 12.4% increase that marked the highest monthly growth rate in eight months. Looking at a wider horizon, supply has grown by more than 44% in the past five months.

$LBTC Emerges as a New Contender

Total Supply by Tokens The standout performer in September is $LBTC, introduced by Lambard just two months ago as Liquid Staked Bitcoin on Solana. $LBTC supply grew by more than 440 tokens in September, quickly establishing itself as a serious competitor. Currently, $LBTC supply is more than 793 tokens, capturing an 8.6% share of the total wrapped $BTC supply. Achieving that level of traction in only two months is remarkable.

Despite $LBTC’s rapid rise, the two dominant tokens remain $WBTC and $cbBTC, which together control more than three-quarters of the market.

$WBTC leads with 3,591 $BTC, equal to 38.7% of supply and a market cap above $402M.
$cbBTC is closing the gap, reaching 3,582 $BTC and a 38.6% share.
$LBTC sits in third place with 793 $BTC and an 8.6% share.

The near parity between $WBTC and $cbBTC is striking. For years, $WBTC was the undisputed leader of wrapped BTC on Solana. Now, $cbBTC is positioned to overtake it, which could mark a shift in utility and protocol dominance.

Supply Shifts Over 30 and 90 Days

Supply Change 30 90 Supply movements over the past 30 and 90 days show how dynamic this market has become.

Over the past 30 days, $LBTC grew by 792 $BTC, followed by $WBTC with 298 $BTC and $cbBTC with 223.6 $BTC. $xBTC, launched by OKX in May 2025, saw the largest decline with a drop of 105 $BTC.
Over the past 90 days, $LBTC again leads with 792.8 $BTC, $cbBTC follows with 744.9 $BTC, and $xBTC ranks third with an increase of 438 $BTC.

These numbers underline the accelerating role of new entrants, especially $LBTC, in reshaping Solana’s wrapped $BTC landscape.

Holder Distribution

N Holders The number of wallets holding wrapped $BTC on Solana has passed 111.6K. Adoption is heavily concentrated in the top two tokens:

$WBTC with 54.7K holders
$cbBTC with 48.1K holders
$zBTC with 7.9K holders, a distant third

The distribution of holders mirrors the supply structure, reinforcing $WBTC and $cbBTC as the core assets in Solana’s $BTC ecosystem.

Trading Volumes Rebound

Trading volume of $BTC on Solana spot DEXs fell by 42% in June. Activity rebounded afterward, rising 40% to $2.76B in August. In September, trading volumes have already topped $2B. $cbBTC now dominates trading activity with 58.4% of September’s volume, compared to $WBTC at 34.6%. $xBTC ranks third with 3.1%.

At the same time, wrapped $BTC TVL in Solana’s spot DEX pools reached a record $61.9M in late August, reflecting growing liquidity depth.

Jupiter Vaults and Perpetual Trading

Tvl on Perps Beyond spot markets, wrapped $BTC has become a major player in Solana’s perpetual ecosystem. TVL in Jupiter vaults, where $WBTC is the primary asset, surpassed $300M in September. This represents a gain of more than 33% in the past 90 days.

Wrapped $BTC is no longer only a bridge for Bitcoin liquidity. It is now a core collateral and trading asset in Solana DeFi, supporting both spot and derivatives markets.

Looking Ahead

September added over 1,000 $BTC to Solana, pushing market cap past $1.04B and holders above 111.6K. Trading volumes also recovered to multi‑billion levels.

If current trends continue, $cbBTC may soon overtake $WBTC, while $LBTC could expand its share further. The data points to wrapped $BTC becoming a more embedded part of Solana’s liquidity and collateral markets.