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.
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Market Stats
Market Cap
$10,453,512,887.59
FDV
No data
Circulating Supply
129,177.506 WBTC
Max Supply
No data
Total Supply
129,177.506 WBTC
Hold Time
No data
Performance
Popularity
#10,476
Dominance
0.41%
Volume (24H)
$228,354,539.95
-0.3%
All time high
$108,291.53
Additional info about Wrapped Bitcoin
Networks and details
The price of Wrapped Bitcoin has decreased by 0.76% in the last hour and decreased by 1.16% in the past 24 hours. Wrapped Bitcoin’s price has also fallen by 10.43% in the past week. The current price is $80,913.77 per WBTC with a 24-hour trading volume of $228.35M. Currently, Wrapped Bitcoin is valued at 25.28% below its all time high of $108,291.53. This all-time high was the highest price paid for Wrapped Bitcoin since its launch.
The current circulating supply of Wrapped Bitcoin is 129,177.506 WBTC which means that Wrapped Bitcoin has as total market cap of $10,453,512,887.59.
Price history
Today | $80,913.77 | ↘ 1.16% |
1 Day | $81,871.90 | ↘ 1.16% |
1 Week | $90,347.24 | ↘ 10.43% |
1 Month | $95,755.49 | ↘ 15.49% |
1 Year | $73,552.28 | ↗ 10.02% |
Market details
Performance against other markets | ↗ 8.45% |
Performance against BTC | ↗ 0.3% |
Performance against ETH | ↗ 136.72% |
Performance in the past year | ↗ 10.02% |
FAQ
Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin (BTC) that operates on the Ethereum (ETH) blockchain. It adheres to the ERC-20 standard, which is the basic compatibility standard of the Ethereum blockchain. This compatibility allows WBTC to be fully integrated into Ethereum's ecosystem, including decentralized exchanges, crypto lending services, prediction markets, and other ERC-20-enabled decentralized finance (DeFi) applications. WBTC is backed by Bitcoin at a 1:1 ratio through a network of automatically monitored merchants and custodians. This aims to ensure that its price is pegged to Bitcoin and allows users to transfer liquidity between the BTC and ETH networks in a decentralized and autonomous manner.
The creation of Wrapped Bitcoin brings Bitcoin into the world of Ethereum's DeFi ecosystem. When users want to convert BTC into WBTC, the to-be-converted BTC is held by a custodian, who participates in the actual minting and burning of Ethereum-based tokens. When WBTCs are burned, the user can reclaim their BTC balance from the custodian. During minting, users send BTC to the custodian for storage and receive an equivalent in WBTC tokens. The user who wants to swap between WBTC and BTC performs a trade to move funds to the merchant. Once finalized, the user can use their BTC/WBTC as they see fit. If WBTC is converted to BTC, the associated Wrapped Bitcoin balance will be destroyed through a burn transaction.
As Wrapped Bitcoin tokens adhere to the ERC-20 token standard, they can be used across the broader Ethereum ecosystem. This includes trading them on decentralized exchanges and exploring decentralized finance opportunities through protocols and platforms supporting WBTC. DeFi opportunities for WBTC range from lending and borrowing to yield farming, token swapping, and liquidity pools. Various protocols and platforms support Wrapped Bitcoin. Using WBTC as collateral for a crypto-backed loan can be an option for businesses. Additionally, WBTC holders may receive compensation from supplying liquidity. Another potential use case for WBTC is in margin trading, where Wrapped Bitcoin may be used to trade Ethereum, stablecoins, and other ERC-20 tokens.
Wrapped Bitcoin was first announced on October 26, 2018, and officially launched on January 31, 2019. The Wrapped Tokens project, of which WBTC is a part, is a joint project of three organizations: BitGo, Kyber Network, and Ren. BitGo, co-founded in 2013 by American computer scientist and entrepreneur Mike Belshe, is an institutional digital asset custody, trading, and financial services firm. Kyber Network is an on-blockchain liquidity protocol that enables the integration of different cryptocurrency tokens and DeFi applications. It was founded in 2017 by Loi Luu, Victor Tran, and Yaron Velner. Ren is a company focused on cross-blockchain integration of cryptocurrency assets and DeFi applications via solutions such as RenBridge, RenVM, and others. It was founded in 2017 by Taiyang Zhang and Loong Wang.
We update our Wrapped Bitcoin to USD currency in real-time. Get the live price of Wrapped Bitcoin on Coinbase.
The current market cap of Wrapped Bitcoin is $10.45B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Wrapped Bitcoin is $108,291.53. This all-time high is highest price paid for Wrapped Bitcoin since it was launched.
Over the last 24 hours, the trading volume of Wrapped Bitcoin is $228.35M.
Assets that have a similar market cap to Wrapped Bitcoin include Lido Staked ETH, USDS, Wrapped TRON, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Wrapped Bitcoin is 129 thousand.
Wrapped Bitcoin ranks 137 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 92% of Coinbase users are buying Wrapped Bitcoin. In other words, 92% of Coinbase customers have increased their net position in Wrapped Bitcoin over the past 24 hours through trading.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Wrapped Bitcoin news
Trending articles
Social stats
Popularity in posts
#244
Contributors
403
Posts
607,635
% About Wrapped Bitcoin
0.116%
Hold times
0 days
X (Twitter)
32.17% bullish
Sentiment
4.5 ★
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.
Highlights
403 unique individuals are talking about Wrapped Bitcoin and it is ranked #244 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 4.5 out of 5. Finally, Wrapped Bitcoin is becoming less newsworthy, with 0 news articles published about Wrapped Bitcoin. This is a 75% decrease in news volume compared to yesterday.
On Twitter, people are mostly neutral about Wrapped Bitcoin. There were 32.17% of tweets with bullish sentiment compared to 2.32% of tweets with a bearish sentiment about Wrapped Bitcoin. 65.51% of tweets were neutral about Wrapped Bitcoin. These sentiments are based on 691 tweets.
On Reddit, Wrapped Bitcoin was mentioned in 10 Reddit posts and there were 27 comments about Wrapped Bitcoin. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Wrapped Bitcoin calculator
1 Wrapped Bitcoin (WBTC) to Canadian Dollar (CAD)
CA$116,607.94
1 Wrapped Bitcoin (WBTC) to Japanese Yen (JPY)
¥11,946,864.74
1 Wrapped Bitcoin (WBTC) to Indian Rupee (INR)
₹7,034,097.37
1 Wrapped Bitcoin (WBTC) to Real (BRL)
R$469,799.38
1 Wrapped Bitcoin (WBTC) to Euro (EUR)
€74,483.53
1 Wrapped Bitcoin (WBTC) to Nigerian Naira (NGN)
NGN 125,670,149.28
1 Wrapped Bitcoin (WBTC) to South Korean Won (KRW)
₩117,781,720.76
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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.