Wrapped Bitcoin (WBTC) Hits 1-Day Trading Volume of $141.10 Million


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Wrapped Bitcoin (CURRENCY:WBTC) traded up 2.2% against the U.S. dollar during the 24-hour period ending at 8:00 AM Eastern on April 8th. In the last week, Wrapped Bitcoin has traded down 2.5% against the U.S. dollar. One Wrapped Bitcoin coin can currently be purchased for about $57,335.14 or 1.00022866 BTC on major exchanges. Wrapped Bitcoin has a total market capitalization of $8.14 billion and approximately $141.10 million worth of Wrapped Bitcoin was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed in the last day:

  • Cosmos (ATOM) traded up 4.4% against the dollar and now trades at $20.27 or 0.00035367 BTC.
  • Creditcoin (CTC) traded up 4.2% against the dollar and now trades at $6.26 or 0.00010913 BTC.
  • Venus (XVS) traded up 9.6% against the dollar and now trades at $57.62 or 0.00100527 BTC.
  • Darwinia Network (RING) traded 4.8% higher against the dollar and now trades at $0.20 or 0.00000348 BTC.
  • Function X (FX) traded up 7.9% against the dollar and now trades at $0.35 or 0.00000619 BTC.
  • Phantasma (SOUL) traded 0.3% higher against the dollar and now trades at $0.69 or 0.00001202 BTC.
  • StableXSwap (STAX) traded up 2.5% against the dollar and now trades at $3.03 or 0.00005288 BTC.
  • mStable USD (MUSD) traded 2.1% higher against the dollar and now trades at $1.00 or 0.00001739 BTC.
  • Redd (RDD) traded 1.7% higher against the dollar and now trades at $0.0011 or 0.00000008 BTC.
  • Nestree (EGG) traded up 15.5% against the dollar and now trades at $0.0129 or 0.00000022 BTC.

Wrapped Bitcoin Coin Profile

Wrapped Bitcoin is a PoW/PoS coin that uses the Scrypt hashing algorithm. Its genesis date was November 27th, 2018. Wrapped Bitcoin’s total supply is 141,953 coins. The official website for Wrapped Bitcoin is wbtc.network.

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. “

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 GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Wrapped Bitcoin using one of the exchanges listed above.

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