Stretchable electrodes are highly demanded in various wearable and flexible electronic devices, whereas the efficient fabrication approach is still a challenge. In this work, an efficient shrinking method to fabricate carbon nanotube (CNT)-based stretchable electrodes is proposed. The electrode is a layer of anisotropic CNT wrinkling film coated on a latex balloon substrate (CNT@latex), whose resistivity remains stable after 25 000 stretching cycles of 0 to 50% tensile strain, and can survive up to 500% tensile train. The highly conductive electrode can be used as the current collector of a stretchable Zinc-ion battery, maintaining an output voltage of 1.3 V during the stretching process of 0 to 100%. The applications of the electrode in flexible triboelectric nanogenerators and Joule heating devices are also demonstrated, further indicating their good prospects in the field of stretchable electronic devices.