Wrapped Bitcoin Tops One Day Volume of $331.92 Million (WBTC)

Wrapped Bitcoin (WBTC) traded 1% lower against the dollar during the 1 day period ending at 11:00 AM ET on February 6th. One Wrapped Bitcoin token can now be purchased for approximately $97,107.02 or 0.99954920 BTC on popular exchanges. Wrapped Bitcoin has a total market capitalization of $12.56 billion and $331.92 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. Over the last week, Wrapped Bitcoin has traded down 8% against the dollar.

Here is how related cryptocurrencies have performed over the last 24 hours:

• GMX (GMX) traded down 2.8% against the dollar and now trades at $16.52 or 0.00017008 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.
• 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 0.8% lower against the dollar and now trades at $97,192.60 or 1.00043009 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 0.8% against the dollar and now trades at $96,769.41 or 0.99607408 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.

Wrapped Bitcoin Profile

Wrapped Bitcoin launched on 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.”

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 Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. 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