Wrapped Bitcoins

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Declining But Dominant: WBTC Maintains Market Lead Over BTCB, RBTC, LBTC, and Other Derivatives

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The Wrapped Bitcoin (WBTC) protocol, initiated by Bitgo in 2019, holds the title of the largest BTC derivative project by market capitalization, and to date, no other project has exceeded its scale. Nonetheless, the past few years have seen a significant decline in the number of wrapped bitcoins in circulation, with more than 32% of … Read more

Supply of Tokenized Bitcoin Dropped Significantly Since the Start of the Year

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This year, the number of tokenized bitcoins hosted on alternative blockchains like Ethereum, has dropped a great deal. Last January the number of wrapped bitcoin (WBTC) issued on the Ethereum blockchain was around 266,880 WBTC and since then, the number has dropped by more than 15% down to 225,962 WBTC. Similarly, the quantity of tokenized … Read more

Stats Show Over 53,000 Wrapped Bitcoins Were Removed From Circulation in the Last 3 Months

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Three months ago, there were 441,546 wrapped or synthetic bitcoins on the Ethereum and Binance Smart Chain worth $17.45 billion using exchange rates on April 24, 2022. Since then, that number has dropped by 53,582 synthetic bitcoins and today the number of wrapped or bonded bitcoins is approximately 387,964 worth $8.81 billion in value. Number … Read more