Wrapped Bitcoin (WBTC) Trading Down 5.3% This Week

Wrapped Bitcoin (WBTC) traded 2.7% lower against the U.S. dollar during the twenty-four hour period ending at 10:00 AM ET on February 2nd. Wrapped Bitcoin has a market cap of $12.82 billion and approximately $655.76 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. During the last week, Wrapped Bitcoin has traded 5.3% lower against the U.S. dollar. One Wrapped Bitcoin token can now be bought for approximately $99,171.68 or 1.00057872 BTC on major cryptocurrency exchanges.

Here is how other cryptocurrencies have performed during 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded down 2.7% against the dollar and now trades at $99,018.29 or 0.99903111 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 2.6% against the dollar and now trades at $98,864.64 or 0.99748091 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 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 November 27th, 2018. Wrapped Bitcoin’s total supply is 129,301 tokens. Wrapped Bitcoin’s official Twitter account is @wrappedbtc and its Facebook page is accessible here. The official website for Wrapped Bitcoin is wbtc.network.

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.”

Wrapped Bitcoin Token Trading

It is usually not presently 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 exchanges listed above.

WBTC/USD price chart by TradingView