Wrapped Bitcoin Achieves Self Reported Market Cap of $8.02 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded 0.7% higher against the U.S. dollar during the 24-hour period ending at 8:00 AM E.T. on June 21st. Wrapped Bitcoin has a market cap of $8.02 billion and approximately $76.11 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. Over the last week, Wrapped Bitcoin has traded down 0.6% against the U.S. dollar. One Wrapped Bitcoin token can currently be purchased for approximately $64,021.56 or 1.00020876 BTC on exchanges.

Here’s how related 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 down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower 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 down 2.2% 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 0.8% higher against the dollar and now trades at $64,021.43 or 1.00020678 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Wrapped Bitcoin Profile

Wrapped Bitcoin’s genesis date was January 30th, 2019. Wrapped Bitcoin’s total supply is 116,499 tokens and its circulating supply is 125,330 tokens. The official website for Wrapped Bitcoin is wbtc.network. The official message board for Wrapped Bitcoin is wbtc-network.medium.com. Wrapped Bitcoin’s official Twitter account is @wrappedbtc and its Facebook page is accessible here.

According to CryptoCompare, “Wrapped Bitcoin (WBTC) is an ERC20 token on Ethereum, backed 1:1 by Bitcoin (BTC). Launched in January 2019, it bridges Bitcoin’s liquidity into Ethereum’s ecosystem, enabling its use in decentralised applications (dApps), decentralised exchanges (DEXs), and DeFi protocols. WBTC tokens are fully backed by Bitcoin held securely by custodians, with all transactions and reserves transparently auditable on-chain. The wrapping process involves three stages: receiving, minting, and burning, ensuring seamless conversion between Bitcoin and WBTC. Initially created by BitGo, Kyber Network, and Ren, WBTC is governed by the WBTC DAO, a decentralised organisation overseeing merchants and custodians. WBTC is compatible with Ethereum wallets and dApps and supports cross-chain interoperability, being available on Ethereum, Base, Kava, and Osmosis. Its primary use cases include providing liquidity to DEXs, enabling DeFi participation, and facilitating Bitcoin’s integration with smart contracts.”

Buying and Selling Wrapped Bitcoin

It is usually not currently possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using U.S. dollars. Investors seeking to trade Wrapped Bitcoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. 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