Wrapped Bitcoin (WBTC) Hits Market Capitalization of $8.90 Billion

Wrapped Bitcoin (WBTC) traded 3.7% lower against the US dollar during the 1-day period ending at 14:00 PM ET on July 4th. During the last week, Wrapped Bitcoin has traded down 6.1% against the US dollar. One Wrapped Bitcoin token can currently be purchased for $58,051.28 or 0.99949588 BTC on cryptocurrency exchanges. Wrapped Bitcoin has a total market capitalization of $8.90 billion and $395.39 million worth of Wrapped Bitcoin was traded on exchanges in the last day.

Here’s how other cryptocurrencies have performed during the last day:

• KILT Protocol (KILT) traded 5% lower against the dollar and now trades at $0.19 or 0.00000326 BTC.
• 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.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% 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 1.3% lower against the dollar and now trades at $0.0118 or 0.00000020 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Wrapped Bitcoin Profile

Wrapped Bitcoin launched on November 27th, 2018. Wrapped Bitcoin’s total supply is 153,269 tokens. 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 an ERC-20 token representing Bitcoin on Ethereum. It enhances liquidity and enables Bitcoin’s use in DeFi. Managed by the WBTC DAO, it integrates with wallets, dapps, and smart contracts. WBTC is utilized for lending, borrowing, swapping, yield farming, and liquidity pools in Aave, Balancer, Compound, Kyber Network, MakerDAO, and Uniswap. WBTC was collaboratively launched in January 2019 by BitGo, Ren, Dharma, Kyber, Compound, MakerDAO, and Set Protocol. Merchants and custodians facilitate token minting and burning, with custodians storing BTC and performing transactions on Ethereum.”

Buying and Selling Wrapped Bitcoin

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

WBTC/USD price chart by TradingView