Wrapped Bitcoin (WBTC) Market Cap Hits $9.36 Billion


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Wrapped Bitcoin (CURRENCY:WBTC) traded down 1.4% against the US dollar during the one day period ending at 23:00 PM Eastern on May 4th. Wrapped Bitcoin has a total market cap of $9.36 billion and approximately $396.72 million worth of Wrapped Bitcoin was traded on exchanges in the last day. Over the last seven days, Wrapped Bitcoin has traded 0.3% lower against the US dollar. One Wrapped Bitcoin coin can currently be purchased for $54,977.62 or 0.99847401 BTC on popular cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed over the last day:

  • Cosmos (ATOM) traded up 1.3% against the dollar and now trades at $22.01 or 0.00039969 BTC.
  • Creditcoin (CTC) traded 5% lower against the dollar and now trades at $5.78 or 0.00010499 BTC.
  • Venus (XVS) traded up 4.4% against the dollar and now trades at $123.16 or 0.00223670 BTC.
  • Function X (FX) traded down 11.5% against the dollar and now trades at $0.73 or 0.00001321 BTC.
  • Darwinia Network (RING) traded down 8.7% against the dollar and now trades at $0.11 or 0.00000203 BTC.
  • Phantasma (SOUL) traded up 5.9% against the dollar and now trades at $0.48 or 0.00000876 BTC.
  • mStable USD (MUSD) traded 0.7% lower against the dollar and now trades at $0.99 or 0.00001795 BTC.
  • StableXSwap (STAX) traded down 7.5% against the dollar and now trades at $2.55 or 0.00004631 BTC.
  • Redd (RDD) traded up 1.7% against the dollar and now trades at $0.0011 or 0.00000008 BTC.
  • Nestree (EGG) traded 23.3% lower against the dollar and now trades at $0.0097 or 0.00000018 BTC.

Wrapped Bitcoin Profile

Wrapped Bitcoin (WBTC) is a PoW/PoS coin that uses the Scrypt hashing algorithm. It launched on November 27th, 2018. Wrapped Bitcoin’s total supply is 170,267 coins. Wrapped Bitcoin’s official Twitter account is @WrappedBTC. 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. “

Wrapped Bitcoin Coin Trading

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

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