Wrapped Bitcoin Reaches Market Capitalization of $10.39 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded down 3.2% against the US dollar during the one day period ending at 12:00 PM ET on March 10th. One Wrapped Bitcoin token can now be purchased for approximately $80,403.05 or 0.99853127 BTC on major cryptocurrency exchanges. Wrapped Bitcoin has a market capitalization of $10.39 billion and $454.60 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. In the last week, Wrapped Bitcoin has traded 11.1% lower against the US dollar.

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

• Taiko (TAIKO) traded down 0.9% against the dollar and now trades at $0.75 or 0.00000934 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 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.
• 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 3.4% against the dollar and now trades at $80,500.49 or 0.99974149 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 2.9% against the dollar and now trades at $80,484.75 or 0.99954600 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.

About Wrapped Bitcoin

Wrapped Bitcoin’s genesis date was November 27th, 2018. Wrapped Bitcoin’s total supply is 129,178 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 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 possible to purchase alternative cryptocurrencies such as Wrapped Bitcoin directly using US dollars. Investors seeking to acquire Wrapped Bitcoin should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Wrapped Bitcoin using one of the aforementioned exchanges.

WBTC/USD price chart by TradingView