Wrapped Bitcoin 24-Hour Trading Volume Reaches $1.10 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded down 10.2% against the U.S. dollar during the 1 day period ending at 7:00 AM ET on November 21st. One Wrapped Bitcoin token can now be bought for approximately $82,177.47 or 0.99819805 BTC on popular exchanges. During the last week, Wrapped Bitcoin has traded 14.5% lower against the U.S. dollar. Wrapped Bitcoin has a market capitalization of $10.45 billion and $1.10 billion worth of Wrapped Bitcoin was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed during the last day:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded down 9.8% against the dollar and now trades at $82,529.64 or 1.00247587 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Wrapped Bitcoin Profile

Wrapped Bitcoin launched on November 27th, 2018. Wrapped Bitcoin’s total supply is 127,131 tokens. Wrapped Bitcoin’s official Twitter account is @wrappedbtc and its Facebook page is accessible here. The official website for Wrapped Bitcoin is wbtc.network.

According to CryptoCompare, “Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. WBTC standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers. To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC / AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with Bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user.GitHubWhitepaper”

Wrapped Bitcoin Token Trading

It is usually not possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using US dollars. Investors seeking to acquire Wrapped Bitcoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Wrapped Bitcoin using one of the exchanges listed above.

WBTC/USD price chart by TradingView