About tBTC
tBTC is an Ethereum token that’s intended to represent Bitcoin (BTC) on the Ethereum blockchain. It is not Bitcoin, but rather a separate ERC-20 token that’s designed to track Bitcoin’s value. tBTC is powered by the Keep Network. Keep Network enables users to deposit Bitcoin and redeem tokenized tBTC, which can then be used across the Ethereum ecosystem.
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Market Stats
Market Cap
$998.96K
FDV
$998.96K
Circ. Supply
9 TBTC
Max Supply
Not enough data
Total Supply
9 TBTC
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
$362.31
-92.71%
Volume (7D)
$2.32K
Volume (30D)
$91.88K
All time high
$151.40K
Price Change (1Y)
76.21%
Additional details
Market details
TBTC vs markets
↗ 7.61%
TBTC vs BTC
↗ 5.26%
TBTC vs ETH
↗ 11.16%
Tags
defi
rehypothecated-crypto
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x8dAEBADE922dF735c38C80C7eBD708Af50815fAa |
Price history
Time | Price | Change |
|---|---|---|
Today | $110,996.46 | ↗ 0.97% |
1 Day | $109,637.51 | ↗ 1.24% |
1 Week | $107,129.30 | ↗ 3.61% |
1 Month | $112,862.61 | ↘ 1.65% |
1 Year | $62,991.55 | ↗ 76.21% |
FAQ
tBTC is an ERC-20 token completely backed by Bitcoin and pegged to the price of Bitcoin. The platform helps Bitcoin holders take action on the Ethereum blockchain and access the decentralized finance (DeFi) ecosystem. tBTC is an open-source project backed by groups such as Keep, Summa, and the Cross-Chain Group.
Keep is Ethereum's privacy layer. “Keep" is the off-chain container for private data. In contrast, Summa provides customized interoperability solutions to companies across the blockchain ecosystem. The Cross-Chain Group is an industry resource and working group dedicated to advancing cross-chain architecture research, design, and implementation. Cross-chain refers to a technology enhancing the interconnection between blockchain networks by allowing the exchange of information and value.
Each tBTC token is fully backed and matched by one reserve BTC. Thus, every TBTC token is backed 1:1 with a BTC token. Also, tBTC is trustless and uses random beacons to select the "signers" who are responsible for the BTC deposited. Thus, one can convert TBTC to BTC and vice versa anytime without a middleman signing.
tBTC further allows users to earn yields without a middleman, reducing counterparty risk and friction. Users can integrate their tBTC with Compound, an Ethereum-based algorithmic money market protocol that allows users to earn yields or borrow assets.
However, tBTC is not a price peg to BTC; instead, it is a supply peg. That implies BTC/tBTC might not be the same in absolute terms. tBTC might trade at a slight discount or at a premium.
ETH is treated as collateral in the exchange process. ETH is a safer collateral type because of the DeFi standard, and the team working on tBTC plans to shift the ETH/BTC collateral ratio from 150% to 135% shortly after launch. tBTC is also working on new mechanisms that could lower that ratio to 40% collateral later.
Integration work is necessary to build tBTC minting and redemption into a dApp. The code is open source, enabling developers to build interfaces that match their products.
The tBTC token was launched on September 22, 2020. The alpha version of tBTC went live on May 15, 2020.
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Social stats
Popularity in posts
#577
Contributors
240
Posts
240
% About tBTC
0.04%
Hold times
0 days
X (Twitter)
51.19% bullish
Sentiment
4.8 ★
Highlights
240 unique individuals are talking about tBTC and it is ranked #577 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, tBTC has an average sentiment score of 4.8 out of 5. Finally, tBTC is becoming less newsworthy, with 0 news articles published about tBTC.
On Twitter, people are mostly bullish about tBTC. There were 58.46% of tweets with bullish sentiment compared to 14.22% of tweets with a bearish sentiment about tBTC. 41.54% of tweets were neutral about tBTC. These sentiments are based on 1856 tweets.
On Reddit, tBTC was mentioned in 34 Reddit posts and there were 55 comments about tBTC. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
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