Wrapped Bitcoin Achieves Self Reported Market Cap of $7.89 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded up 0% against the dollar during the 24 hour period ending at 8:00 AM E.T. on August 16th. Wrapped Bitcoin has a market capitalization of $7.89 billion and $28.67 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. One Wrapped Bitcoin token can currently be bought for about $62,975.19 or 1.00037820 BTC on cryptocurrency exchanges. During the last seven days, Wrapped Bitcoin has traded 3% lower against the dollar.

Here’s how related cryptocurrencies have performed during the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower 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 down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• UZDT (UZDT) traded down 0% against the dollar and now trades at $1.00 or 0.00001588 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 up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded 0% higher against the dollar and now trades at $62,918.47 or 0.99947711 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’s genesis date was January 30th, 2019. Wrapped Bitcoin’s total supply is 116,499 tokens and its circulating supply is 125,330 tokens. Wrapped Bitcoin’s official website is wbtc.network. Wrapped Bitcoin’s official message board 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 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 presently possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using US dollars. Investors seeking to acquire Wrapped Bitcoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini 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