Wrapped Bitcoin Reaches Self Reported Market Capitalization of $10.56 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded up 1.2% against the U.S. dollar during the 1-day period ending at 8:00 AM Eastern on September 29th. Wrapped Bitcoin has a total market capitalization of $10.56 billion and $208.22 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. One Wrapped Bitcoin token can now be purchased for approximately $84,219.36 or 0.99870133 BTC on exchanges. During the last seven days, Wrapped Bitcoin has traded down 1.9% against the U.S. dollar.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower 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 up 1.2% 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.
• CateCoin (CATECOIN) traded up 4.6% against the dollar and now trades at $0.0790 or 0.00000094 BTC.
• SolvBTC (SOLVBTC) traded up 1.4% against the dollar and now trades at $84,031.93 or 0.99647873 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 was first traded on January 30th, 2019. Wrapped Bitcoin’s total supply is 116,499 tokens and its circulating supply is 125,330 tokens. Wrapped Bitcoin’s official Twitter account is @wrappedbtc and its Facebook page is accessible here. Wrapped Bitcoin’s official message board is wbtc-network.medium.com. The official website for Wrapped Bitcoin is wbtc.network.

According to CryptoCompare, “Wrapped Bitcoin (WBTC) is an ERC20 token on Ethereum, backed 1:1 by Bitcoin (BTC). Launched in January 2019, it bridges Bitcoin’s liquidity into Ethereum’s ecosystem, enabling its use in decentralised applications (dApps), decentralised exchanges (DEXs), and DeFi protocols. WBTC tokens are fully backed by Bitcoin held securely by custodians, with all transactions and reserves transparently auditable on-chain. The wrapping process involves three stages: receiving, minting, and burning, ensuring seamless conversion between Bitcoin and WBTC. Initially created by BitGo, Kyber Network, and Ren, WBTC is governed by the WBTC DAO, a decentralised organisation overseeing merchants and custodians. WBTC is compatible with Ethereum wallets and dApps and supports cross-chain interoperability, being available on Ethereum, Base, Kava, and Osmosis. Its primary use cases include providing liquidity to DEXs, enabling DeFi participation, and facilitating Bitcoin’s integration with smart contracts.”

Buying and Selling Wrapped Bitcoin

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

WBTC/USD price chart by TradingView