Wrapped Bitcoin (WBTC)

0.04 %

Market Cap

The total market value of a cryptocurrency's circulating supply. It is analogous to the free-float capitalization in the stock market.

Market Cap = Current Price x Circulating Supply.

24 Hour Trading Vol

A measure of how much of a cryptocurrency was traded in the last 24 hours.

236598871>
Fully Diluted Valuation

The market cap if the max supply was in circulation.

Fully-diluted market cap (FDMC) = price x max supply. If max supply is null, FDMC = price x total supply. if max supply and total supply are infinite or not available, fully-diluted market cap shows - -.

4130771621>T
Circulating

The amount of coins that are circulating in the market and are in public hands. It is analogous to the flowing shares in the stock market.

176,647.00
Total Supply

The amount of coins that have been already created, minus any coins that have been burned. It is analogous to the outstanding shares in the stock market.

If this data has not been submitted by the project or verified by the CMC team, total supply shows - -.

176,647.07
Max Supply

The maximum amount of coins that will ever exist in the lifetime of the cryptocurrency. It is analogous to the fully diluted shares in the stock market.

If this data has not been submitted by the project or verified by the CMC team, max supply shows - -.

176,647.07
Low High
Contract
Website
Explorers
Social Media
Tags
Week Month Year All Time
High

Jan 19 2023

20674.383807422
13.11%

Jan 18 2023

21144.437247942
10.59%

Mar 30 2022

47411.499508191
-50.68%

Nov 10 2021

-66.84%
Low

Jan 19 2023

20674.383807422
13.11%

Jan 03 2023

16652.814352603
40.42%

Nov 10 2022

15687.07286106
49.07%

Apr 02 2019

646.25%

Market

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Historical Data

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Coin
Wrapped Bitcoin
Comments

Coin Info

Wrapped Bitcoin is a tokenized variation of Bitcoin (BTC) that functions on the Ethereum (ETH) network. ERC-20 is the fundamental compatibility standard of the Ethereum blockchain.

WBTC is supported by Bitcoin at a 1:1 ratio through a network of automatically monitored merchants and custodians, guaranteeing that its price is always tied to Bitcoin. It allows users to move liquidity between the BTC and ETH networks in a decentralized and independent manner.

Wrapped Bitcoin was originally introduced on October 26, 2018, and it became operational on January 31, 2019.

The Wrapped Tokens project, of which WBTC is a component, was created collectively by three organizations: BitGo, Kyber Network, and Ren.

BitGo is an institutional digital asset custody, trading, and financial services company that was co-founded in 2013 by American computer scientist and entrepreneur Mike Belshe. BitGo, in addition to being one of WBTC's developers, is also its original custodian – the organization that keeps WBTC tokens and the keys required to manufacture more of them.

Kyber Network is an on-chain liquidity mechanism that enables the integration of several cryptocurrency currencies and DeFi applications. It was established in 2017 and has its headquarters in Singapore. Its founders are Loi Luu, Victor Tran, and Yaron Velner.

Bitcoin, the oldest and largest cryptocurrency, has a massive user base and a liquidity pool worth several dozen billion dollars. However, its blockchain capability is simple by current standards.

WBTC makes it possible for a Bitcoin-like asset to be fully integrated into this cutting-edge ecosystem of financial decentralised apps by "wrapping" BTC in the ERC-20 standard.

Additionally, Wrapped Bitcoin makes it much simpler for exchanges, wallets, and payment providers that use Ethereum to handle WBTC activities by allowing them to host only one Ethereum node instead of two distinct nodes for the ETH and BTC networks.

Finally, compared to actual bitcoins, WBTC may be transferred more quickly because of the Ethereum blockchain's shorter average block time of around 15 seconds vs 10 minutes.

To know more about the Wrapped Bitcoin price prediction, install the top cryptocurrency app CoinGabbar today!



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