Nearly 1% Of Bitcoin Supply Is Now Wrapped In Ethereum
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 […]
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More than $6 billion worth of Bitcoin is now tokenized on Ethereum as WBTC. One percent of Bitcoin’s circulating supply is currently tokenized as Wrapped BTC (WBTC), equating to nearly $6.2 billion worth of BTC. The milestone was acknowledged by the product manager of crypto custody firm BitGo, Kia Mosayeri, who tweeted the news on June 7. BitGo is the custodian for the Wrapped Bitcoin protocol, which was launched its Bitcoin-backed ERC-20 token WBTC on Ethereum in January 2019.1% of all BTC has been wrapped into $WBTC! https://t.co/jOi0LZZUyi— WBTC (@WrappedBTC) June 7, 2021 According to....
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....
WBTC, BTCB, and other wrapped Bitcoin implementations may contribute to a BTC supply shortage looming on the horizon In a blog post of Friday, Binance re-introduced BTCB to the world — a wrapped Bitcoin asset intended to bring liquidity from the world's largest cryptocurrency, BTC, to Binance Smart Chain's DeFi (decentralized finance) ecosystem. However, hodlers may be cheering the renewed interest in BTCB for a different reason: each Bitcoin locked on BSC may contribute to a looming BTC supply crisis. First announced last year, Binance initially saw wrapped Bitcoin solely as a vehicle for....
The supply of BitGo’s wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 WBTC minted within one week. Here’s why.
On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper, and Mydoge wallet.
Bitgo Introduces Wrapped Dogecoin Initiative
Almost four years ago in January 2019, Bitgo launched the popular ERC20 token wrapped bitcoin (WBTC). WBTC is essentially a wrapped version of bitcoin built with the ERC20 standard on top of....