NFTs most popular assets on Ethereum, but Wrapped Bitcoin growth stalls
NFTs have increased their lead over stablecoins and ERC-20 tokens in transfers on the Ethereum network since last July, while WBTC minted on chain has leveled off this month. Transfers of nonfungible tokens (NFT) on Ethereum have surpassed transfers of stablecoins and altcoins while the supply of wrapped Bitcoin (WBTC) has remained relatively stagnant since late last year.Those are two of the key findings in the latest State of the Network update from Coin Metrics. It details how ERC-721 transfers overtook stablecoins and altcoins on Ethereum starting last July and have continued to....
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Wrapped tokens have become increasingly popular because they allow traders and investors to utilize their crypto-assets on different blockchain networks. For instance, Wrapped Bitcoin, which now accounts for roughly 1% of all Bitcoin in circulation, may be used on the Ethereum (ETH) blockchain to engage in various types of decentralized finance (DeFi) transactions. However, it […]
As wrapped Bitcoin approaches 189,000 BTC, the leading form of BTC on Ethereum now makes up for nearly 1% of the total supply of the cryptocurrency. The total supply of WBTC was only around 4,000 coins last June, and today it is 47 times that. The gigantic growth has made the token the most popular […]
wETH is the ERC-20 compatible and tradable version of ETH and can be used to interact with other ERC-20 assets. Traders who use the Ethereum network are familiar with the ERC-20 technical standard and have most likely traded and invested in tokens that utilize it. After all, its practicality, transparency and flexibility have made it the industry norm for Ethereum-based projects.As such, many decentralized applications (DApps), crypto wallets and exchanges natively support ERC-20 tokens. However, there’s one problem: Ether (ETH) and ERC-20 do not exactly follow the same rules, as Ether was....
With a market cap now over $1.5 billion, Wrapped Bitcoin (WBTC) makes up 80% of the total BTC held on Ethereum. Wrapped Bitcoin (WBTC) reached all-time highs today in terms of market capitalization and number of tokens.WBTC is the most popular version of Bitcoin tokenized for use on the Ethereum network. According to the official website, there currently is a record total of 116,885 WBTC, backed by an equal number of BTC held by custodians. The market cap of WBTC now tops $1.58 billion.This makes WBTC Ethereum’s sixth-largest token by market cap, after Crypto.com Coin (CRO), USD Coin....
Ethereum-based traders turn their noses up at Huobi’s latest wrapped assets, including BSV and LTC Following the success of HBTC -- the wrapped Bitcoin tradable on Ethereum currently securing nearly $70 million in BTC -- Huobi Global has released the latest in its “H-token” series: Litecoin and Bitcoin SV. However, traders and developers thus far don’t seem interested.First announced in September, the H-token series promised to bring a wide range of assets to Ethereum. Huobi CIO and head of Huobi DeFi Labs, Sharlyn Wu, said in a press release that the offerings would be aimed at empowering....