Wrapped Bitcoin Wrapped Bitcoin

Stats

Current price
$60161.0 (3.62%)
Newscrypto Rating
7.5 / 10
Total Value Locked 24H
in USD 2.64B -3.19%
in ETH 4.31M -0.43%
0.12M -2.15%
ETH Locked 18.58M 0
% Supply Locked 0.62%
Blockchain Ethereum
Most Locked BTC
Protocol Token None

Total value locked in Wrapped Bitcoin

Project Overview

Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) that runs on the Ethereum (ETH) blockchain.WBTC is compliant with ERC-20 — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance (DeFi) applications.

WBTC is also backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians, ensuring that its price is pegged to Bitcoin at all times and allows users to transfer liquidity between the BTC and the ETH networks in a decentralized and autonomous manner.

Wrapped Bitcoin was first announced on October 26, 2018, and officially launched on January 31, 2019.

There is no predetermined schedule of WBTC issuance. Instead, WBTC is automatically minted or burned whenever users purchase or sell their tokens for Bitcoin via a system of merchants and custodians.

Because Wrapped Bitcoin is always backed by Bitcoin at a 1:1 ratio, the number of tokens in circulation is directly dependent on the amount of Bitcoin reserves in the WBTC network. As of October 2020, that number was just over 94,000 tokens, worth approximately $1 billion in total.

You can buy WBTC on several exchanges, both centralized and decentralized ones, which serve as merchants on the Wrapped Bitcoin network.

Technical analysis

Technical Analysis in progress...

News/Events

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