Currencies28316
Market Cap$ 2.41T-5.11%
24h Spot Volume$ 66.83B-2.05%
BTC Dominance51.67%+0.34%
ETH Gas9 Gwei
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Wrapped Bitcoin

Wrapped Bitcoin WBTC Price $ 63,115

Rank: 16

730 Watchlists

WBTC Price

63,115
4.43%
(-$ 2,928)
Price Range
LowHigh
$ 61,949$ 66,365

General Info

Contracts/Explorers:

Explorers

Tags (Sub-Categories):

#Token

Funds and Backers

No funds found yet

Wallets

No wallets found yet

Description

Wrapped Bitcoin is an ERC20 token backed 1:1 with Bitcoin

Wrapped Bitcoin (WBTC) Chart

The Wrapped Bitcoin to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

WBTC to USD Converter

Wrapped Bitcoin (WBTC)WBTC

WBTC Price Statistics

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Market Cap

$ 9.79B

FDV

$ 10.29B

ATH Market Cap

$ 16.53B

24 Trade Vol.

$ 316.14M


Vol. (24h) / MCap

0.0323

Max Supply

WBTC 163,006

Total Supply

WBTC 155,117

Circulating Supply

WBTC 155.12K

(95.2% of Max Supply)

Listing Date

28 Apr 2019

All Time High

$ 73,006

13 Mar 2024


All Time Low

$ 4,003

13 Mar 2020


From ATH

13.5%

From ATL

1,477%

What is Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin (WBTC) is an ERC20 compatible token that represents Bitcoin (BTC). WBTC is the first ERC20 coin pegged 1:1 to Bitcoin and is managed by the decentralized organization WBTC DAO. BitGo, Kyber Network, and Ren had the idea to launch the token in 2019.

WBTC works like any other stablecoin, except for the fact that Bitcoin is provided instead of what would normally be a FIAT dollar or euro. Through a WBTC partner, 1 Bitcoin can be converted to 1 Wrapped Bitcoin, and vice-versa, and like Bitcoin, WBTC has a limited supply of 21 million coins.

The key advantage to WBTC is the fact that it integrates Bitcoin with Ethereum compatible wallets, dApps, and smart contracts.

What are WBTC key features and how does it work?

In essence, WBTC standardizes Bitcoin to the ERC20 format, essentially allowing smart contracts to integrate Bitcoin transfers. WBTC brings greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. Since the majority of trading volume takes place on centralized exchanges with Bitcoin. WBTC is helping to change that by bringing Bitcoin’s liquidity to DEXs and making it possible to use Bitcoin for token trades.

The two parties responsible for the security and reserves of the token are custodians and merchants:

Custodians are responsible for maintaining reserves that support WBTC. They also create new coins, this refers to the process of creating new wrapped tokens and is initiated by a merchant and performed by the custodian.

Merchants, on the contrary, burn tokens. Burning is done when WBTC needs to be transferred back into BTC. The amount to be ‘burnt’ is deducted from the merchant’s WBTC balance (on-chain) and the supply of WBTC is then reduced. Merchants also resort to custodians when there is a demand for tokens with a request for minting. And they are also responsible for the supply of coins to markets.

What can Wrapped Bitcoin be used for?

For BTC holders, using Wrapped Bitcoin provides an opportunity to join the decentralized finance market or DeFi. WBTC allows access to all usual functions, such as farming and quick swaps.

As a default, Uniswap and other leading Ethereum-based DEXs support WBTC, and it can also be used on large centralized exchanges, like Binance.

Bitcoin is a cryptocurrency with a capitalization of hundreds of billions of dollars. And WBTC is actively promoted by the biggest players in the DeFi industry since it allows them to leverage some of BTC’s dominance. Since it is a permission-less ERC20 token, WBTC can be used as a building block for DeFi applications. One such example is with TokenSets, a platform that automatically trades between WBTC and ETH to capture gains in both assets. 

Where can you buy WBTC?

Since Wrapped BTC was created primarily for DeFi, it is available on all kinds of aggregators and decentralized exchanges: Uniswap, SushiSwap, AAVE, and others. You can also purchase WBTC on centralized sites, including Binance, HitBTC, and Kraken. WBTC can even be bought using a bank card. For example, on platforms such as Simplex. A complete list of where WTBC can be bought can be found here.

Wrapped Bitcoin Price Today

Wrapped Bitcoin's current price is $ 63,115, it has dropped -4.43% over the past 24 hours.

Wrapped Bitcoin's All Time High (ATH) of $ 73,006 was reached on 13 Mar 2024, and is currently -13.5% down.

The current circulating supply of Wrapped Bitcoin is 155.12 Thousands tokens, and the maximum supply of Wrapped Bitcoin is 163.01 Thousands.

Wrapped Bitcoin’s 24 hour trading volume is $ 316.10 Million.

Wrapped Bitcoin's current share of the entire cryptocurrency market is 0.41%, with a market capitalization of $ 9.79 Billions.

You can find more details about Wrapped Bitcoin on its official website and on the block explorer.

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