About Wrapped Bitcoin
Wrapped Bitcoin (WBTC) is an Ethereum token that is 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. WBTC was created to allow Bitcoin holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum. Through a WBTC partner, 1 Bitcoin can be exchanged for 1 Wrapped Bitcoin, and vice-versa. The BTC that backs WBTC is verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC is maintained by a group called the WBTC DAO that consists of over 30 members. It was originally started by BitGo, Ren, and Kyber.
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Trading Insights
Traders
5.9K
Searched
29
Market Stats
Market Cap
$14.04B
FDV
$14.04B
Circ. Supply
127K WBTC
Max Supply
Not enough data
Total Supply
127K WBTC
Performance
Popularity
#9,229
Dominance
0.39%
Volume (24H)
$244.83M
-39.73%
Volume (7D)
$2.86B
Volume (30D)
$17.33B
All time high
$125.75K
Price Change (1Y)
68.41%
Additional details
Market details
WBTC vs markets
↗ 1.77%
WBTC vs BTC
↘ 0.23%
WBTC vs ETH
↗ 5.87%
Tags
medium-of-exchange
defi
privacy
wrapped-tokens
+4
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599 | |
Avalanche C-Chain | 0x50b7545627a5162F82A992c33b87aDc75187B218 | |
Optimism | 0x68f180fcCe6836688e9084f035309E29Bf0A2095 | |
ADA | 0x6ab6d61428fde76768d7b45d8bfeec19c6ef91a8 |
Price history
Time | Price | Change |
|---|---|---|
Today | $110,427.70 | ↗ 2.43% |
1 Day | $107,996.53 | ↗ 2.27% |
1 Week | $108,741.42 | ↗ 1.57% |
1 Month | $112,042.02 | ↘ 1.42% |
1 Year | $65,583.88 | ↗ 68.41% |
FAQ
Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin (BTC) that operates on the Ethereum (ETH) blockchain. It adheres to the ERC-20 standard, which is the basic compatibility standard of the Ethereum blockchain. This compatibility allows WBTC to be fully integrated into Ethereum's ecosystem, including decentralized exchanges, crypto lending services, prediction markets, and other ERC-20-enabled decentralized finance (DeFi) applications. WBTC is backed by Bitcoin at a 1:1 ratio through a network of automatically monitored merchants and custodians. This aims to ensure that its price is pegged to Bitcoin and allows users to transfer liquidity between the BTC and ETH networks in a decentralized and autonomous manner.
The creation of Wrapped Bitcoin brings Bitcoin into the world of Ethereum's DeFi ecosystem. When users want to convert BTC into WBTC, the to-be-converted BTC is held by a custodian, who participates in the actual minting and burning of Ethereum-based tokens. When WBTCs are burned, the user can reclaim their BTC balance from the custodian. During minting, users send BTC to the custodian for storage and receive an equivalent in WBTC tokens. The user who wants to swap between WBTC and BTC performs a trade to move funds to the merchant. Once finalized, the user can use their BTC/WBTC as they see fit. If WBTC is converted to BTC, the associated Wrapped Bitcoin balance will be destroyed through a burn transaction.
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Wrapped Bitcoin news
Trending articles
Social stats
Popularity in posts
#394
Contributors
135
Posts
135
% About Wrapped Bitcoin
0.058%
Hold times
0 days
X (Twitter)
55.23% bullish
Sentiment
4.9 ★
Highlights
135 unique individuals are talking about Wrapped Bitcoin and it is ranked #394 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Wrapped Bitcoin has an average sentiment score of 4.9 out of 5. Finally, Wrapped Bitcoin is becoming less newsworthy, with 0 news articles published about Wrapped Bitcoin.
On Twitter, people are mostly bullish about Wrapped Bitcoin. There were 58.41% of tweets with bullish sentiment compared to 5.76% of tweets with a bearish sentiment about Wrapped Bitcoin. 41.59% of tweets were neutral about Wrapped Bitcoin. These sentiments are based on 679 tweets.
On Reddit, Wrapped Bitcoin was mentioned in 31 Reddit posts and there were 47 comments about Wrapped Bitcoin. 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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