Wrapped Bitcoin current price is €0.00000 with a marketcap of €0. Its price is 5.50% up in the last 24 hours.
- Wrapped Bitcoin (WBTC)
- Live Price €0.00000
- Market Cap €0
- Volume €0
- Available Supply 160,286 WBTC
- Rank 17
Technical analysis, backgrounds and info on this crypto coin
Besides Wrapped Bitcoin (WBTC) is the popular cryptocurrency (measured by market capitalisation). This cryptocurrency has become more and more popular over years. Given the plans for the future, many insiders have high expectations of the Wrapped Bitcoin (WBTC) price. Of course you can trade and/or invest in Wrapped Bitcoin (WBTC) as well. On this page you'll find basic statistics and characteristics of Wrapped Bitcoin (WBTC). Furthermore you'll find info regarding the Wrapped Bitcoin (WBTC) price, basic technical analysis and a brief explanation of the story of Wrapped Bitcoin (WBTC)
Current Wrapped Bitcoin (WBTC) price
Please see below the Wrapped Bitcoin price chart as provided by our home broker.
Onchain Metrics Wrapped Bitcoin (WBTC)
If you want to perform a technical analysis of Wrapped Bitcoin and decide whether it is the right time to trade or invest, please check the on-chain metrics as provided by our partners of Into the Block.
These On-chain metrics are updated once a day (rondabout 11 pm est, which is 5 am Dutch time). If you want to check the latest update, please dive deeper into the On-chain metrics of our metrics partner IntotheBlock.io.
Furthermore, we provide you with the price chart and historical data for Wrapped Bitcoin (WBTC) at the bottom of this page. Before we get there, we provide you with the upcoming agenda as well as some backgrounds and info on Wrapped Bitcoin.
The Wrapped Bitcoin agenda
In order to provide you with an accurate overview of coming Wrapped Bitcoin agenda items and events, you'll find our Wrapped Bitcoin agenda below.
If you are interested in the agenda items for other cryptocurrencies and/or the most important economic items on the macro-economic agenda, please visit our calendar page.
What is Wrapped Bitcoin?
Wrapped Bitcoin Tokens (WBTC) is an ERC20 token fully backed by real BTC. The proof of reserves is on-chain, showing the exact 1:1 ratio between minted WBTC tokens and BTC stored by the custodians. A collaborative effort with a community of partners to bring Bitcoin to the Ethereum network will bring the stability and value of Bitcoin to Ethereum's expansive ecosystem of decentralized applications.
Who created Wrapped Bitcoin?
Last October, a joint initiative by Bitgo, Kyber Network, and Ren (formerly Republic Protocol), revealed the creation of a new ERC20 token called WBTC. The new tokens are meant to bring more liquidity into the decentralized ecosystem between both chains, while also enhancing decentralized applications. Wrapped bitcoin (WBTC) is the first ERC20 token backed 1:1 with BTC. The organizations that developed the protocol believe WBTC is the beginning of a multi-institutional framework for tokenizing any asset.
What is the purpose of Wrapped Bitcoin (WBTC)?
WBTC will allow the Ethereum network to be leveraged to enable new applications and use cases for bitcoin — WBTC standardizes bitcoin to the ERC20 format, so dapps such as Compound, Dharma, Dydx, Gnosis, Maker, Set protocol and more can leverage bitcoin for decentralized lending, margin trading, and derivative markets,” explain the creators of WBTC. “Further compelling new applications and use cases will be identified, explored and implemented as the ecosystem continues to grow and actively innovate..
Wrapped Bitcoin (WBTC) nowadays
Initially, eight merchants will be facilitating conversion between WBTC and BTC. There is a required Know Your Customer (KYC) process involved with obtaining WBTC through these merchants. Initial merchants dealing with WBTC will include Airswap, Dharma, Ethfinex, Gopax, Kyber Network, Prycto, Ren, and Set Protocol. The developers also say that WBTC will be integral to the development of decentralized exchanges.
“WBTC also makes it possible for traders to use bitcoin value for token trades on decentralized exchanges (DEXs) such as Airswap, Ddex, Ethfinex, Idex, Kyber Swap, Loopring, Radar Relay, Renex, Switcheo Network, and the Ocean,” the WBTC announcement detailed.
The future of Wrapped Bitcoin (WBTC)
The community-backed project is also centralized to a degree by a chosen custodian. Bitgo will hold the keys to mint tokens and the project will be very similar to stablecoin projects that use proof of reserves. The WBTC whitepaper details that there are many cryptocurrency assets and government issued bonds that use the reserve method. “This is the case with tether, trueusd, USDC, digix (gold), globcoin (a mix of fiat currencies), and AAA reserve (governmental bonds),” the whitepaper details. Additionally, the WBTC creators emphasize that the system’s smart contracts have been audited by several reputable third-party audit firms such as Coinspect, Solidified Technologies, and Chainsecurity.Read Less
Further technical analysis of this coin
For further technical analysis you’ll find the current price chart and overview of historical data at the bottom of this page. Do you need more on-chain metrics? You can find these on the site of our on-chain metrix partner IntotheBlock.
Do you want to trade in this crypto?
If you want to trade in this cryptocurrency you might consider to sign up with one of our home exchanges: Changelly, CEX.io or Binance. When your mother tongue is Dutch or French you might also consider Bitvavo. If you want to know more about choosing the right crypto exchange, please visit our crypto exchages page.
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