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About Wrapped Bitcoin
Wrapped Bitcoin (WBTC) is an Ethereum token that is intended to represent Bitcoin (BTC) on the Ethereum blockchain. It is not Bitcoin, but rather a separate ERC-20 token that’s designed to track Bitcoin’s value. WBTC was created to allow Bitcoin holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum. Through a WBTC partner, 1 Bitcoin can be exchanged for 1 Wrapped Bitcoin, and vice-versa. The BTC that backs WBTC is verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC is maintained by a group called the WBTC DAO that consists of over 30 members. It was originally started by BitGo, Ren, and Kyber.
Trading Insights
Market Stats
Market Cap
£127.74M
FDV
Not enough data
Circ. Supply
2.8K WBTC
Max Supply
Not enough data
Total Supply
2.8K WBTC
Performance
Popularity
#7,960
Dominance
Not enough data
Volume (24H)
£2.14M
135.43%
Volume (7D)
Not enough data
Volume (30D)
Not enough data
All time high
Not enough data
Price Change (1Y)
Not enough data
Past performance is not a reliable indicator of future results. Learn more about asset risks.
Investment risk
Baseline risk: All crypto-assets are risky, regardless of the type of token you hold. Here are some 'baseline' risks to be aware of before deciding to invest.
Investment risk: The performance of most crypto-assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto-assets.
Lack of protections: Crypto-assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto-asset investments.
Crypto-assets are complex: It may be difficult to understand the risks associated with a crypto-asset investment. Do your own research and if something sounds too good to be true, it probably is.
Don't put all your eggs in one basket: Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments such as crypto-assets.
Wrapped tokens: Wrapped crypto-assets (e.g. cbETH, WBTC) (often referred to as 'wrapped tokens') are tokenised representations of other crypto-assets. They are typically created to facilitate compatibility and interaction across different blockchain protocols.
Smart contract risk: Wrapped tokens rely on smart contracts to ensure their value remains pegged to the underlying asset. These contracts could have vulnerabilities or flaws that can be exploited, potentially leading to a loss of funds.
Collateral risk: The value of a wrapped token is typically backed by an equivalent amount of the underlying asset. If the mechanisms ensuring this collateralization fail, the wrapped token's value might not be preserved.
Custodial risk: The underlying assets for wrapped tokens may be held in custody by a third party. If this party becomes insolvent, mismanages the assets, or is subjected to fraud or hacking, the value of the wrapped token might be jeopardized.
Bridging risk: Wrapped tokens are often used to bridge assets between different blockchain ecosystems. The integration layers that facilitate these bridges might suffer from technical issues, hampering the ability to transfer or utilize the tokens as intended.
Pricing disparity: In certain situations, the price of the wrapped asset and its underlying asset might diverge due to market inefficiencies or liquidity issues.
Additional details
Recent trends
The current price is £45,237.21 per WBTC with a 24-hour trading volume of £2.14M.
The current circulating supply of Wrapped Bitcoin is 2,825.72 WBTC which means that Wrapped Bitcoin has as total market cap of £127,740,077.63.
Market details
WBTC vs markets
↘ 10.98%
WBTC vs BTC
↗ 0.14%
WBTC vs ETH
↘ 12.34%
Tags
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599 | |
Avalanche C-Chain | 0x50b7545627a5162F82A992c33b87aDc75187B218 | |
Optimism | 0x68f180fcCe6836688e9084f035309E29Bf0A2095 | |
ADA | 0x6ab6d61428fde76768d7b45d8bfeec19c6ef91a8 |
Price history
Time | Price | Change |
|---|---|---|
Today | £45,237.21 | |
1 Day | £46,726.22 | |
1 Week | £47,441.20 | |
1 Month | £54,511.50 | |
1 Year | £74,414.74 |
Past performance is not a reliable indicator of future results. Learn more about asset risks.
FAQ
Social stats
Popularity in posts
#952
Contributors
16
Posts
18
% About Wrapped Bitcoin
0.017%
Articles
1
X (Twitter)
15.38% bullish
Sentiment
4.7 ★
Highlights
16 unique individuals are talking about Wrapped Bitcoin and it is ranked #952 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Wrapped Bitcoin has an average sentiment score of 4.7 out of 5. Finally, Wrapped Bitcoin is becoming less newsworthy, with 1 news articles published about Wrapped Bitcoin.
On Twitter, people are mostly neutral about Wrapped Bitcoin. There were 15.38% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about Wrapped Bitcoin. 84.62% of tweets were neutral about Wrapped Bitcoin. These sentiments are based on 13 tweets.
On Reddit, Wrapped Bitcoin was mentioned in 2 Reddit posts and there were 3 comments about Wrapped Bitcoin. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.