Wrapped Bitcoin Achieves Market Capitalization of $9.22 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded 2.7% higher against the dollar during the one day period ending at 17:00 PM E.T. on May 2nd. One Wrapped Bitcoin token can now be purchased for about $59,308.38 or 0.99980787 BTC on exchanges. Wrapped Bitcoin has a market cap of $9.22 billion and approximately $303.30 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. In the last seven days, Wrapped Bitcoin has traded 8.7% lower against the dollar.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• KILT Protocol (KILT) traded up 4% against the dollar and now trades at $0.30 or 0.00000501 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 2.2% lower 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.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 2.9% higher against the dollar and now trades at $0.0100 or 0.00000017 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 155,385 tokens. Wrapped Bitcoin’s official website 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 U.S. dollars. Investors seeking to trade Wrapped Bitcoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. 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