Wrapped Bitcoin (WBTC) Reaches Self Reported Market Cap of $9.00 Billion

Wrapped Bitcoin (WBTC) traded up 11.5% against the U.S. dollar during the 24-hour period ending at 8:00 AM E.T. on August 20th. One Wrapped Bitcoin token can now be bought for about $71,822.67 or 1.00407431 BTC on major cryptocurrency exchanges. In the last seven days, Wrapped Bitcoin has traded 13.2% higher against the U.S. dollar. Wrapped Bitcoin has a market cap of $9.00 billion and $521.26 million worth of Wrapped Bitcoin was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

• 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 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• UZDT (UZDT) traded up 0% against the dollar and now trades at $1.00 or 0.00001387 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.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded up 11.7% against the dollar and now trades at $71,866.79 or 1.00469104 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Wrapped Bitcoin Token Profile

Wrapped Bitcoin’s launch 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 Twitter account is @wrappedbtc and its Facebook page is accessible here. The official message board for Wrapped Bitcoin is wbtc-network.medium.com. The official website for Wrapped Bitcoin is wbtc.network.

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”

Wrapped Bitcoin Token Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using US dollars. Investors seeking to trade Wrapped Bitcoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Wrapped Bitcoin using one of the exchanges listed above.

WBTC/USD price chart by TradingView