Wrapped Bitcoin (WBTC) Achieves Self Reported Market Capitalization of $9.16 Billion

Wrapped Bitcoin (WBTC) traded down 3.2% against the dollar during the 1 day period ending at 7:00 AM E.T. on May 28th. Over the last seven days, Wrapped Bitcoin has traded 5% lower against the dollar. One Wrapped Bitcoin token can now be bought for $73,114.25 or 0.99764040 BTC on cryptocurrency exchanges. Wrapped Bitcoin has a market cap of $9.16 billion and approximately $212.16 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours.

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

• Aidi Finance (BSC) (AIDI) traded down 2.2% 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 1.2% higher 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.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded 2% lower against the dollar and now trades at $74,109.44 or 1.01121965 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Wrapped Bitcoin

Wrapped Bitcoin launched on January 30th, 2019. Wrapped Bitcoin’s total supply is 116,815 tokens and its circulating supply is 125,330 tokens. The official message board for Wrapped Bitcoin is wbtc-network.medium.com. The official website for Wrapped Bitcoin is wbtc.network. Wrapped Bitcoin’s official Twitter account is @wrappedbtc and its Facebook page is accessible here.

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. GitHubWhitepaper”

Buying and Selling Wrapped Bitcoin

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

WBTC/USD price chart by TradingView