Name: Wrapped Bitcoin
Brand: Binance
Price: 86782.87 USD
Availability: InStock
Rating: 3 (2 reviews)

Price of Wrapped Bitcoin Today

The live price of Wrapped Bitcoin is $86,782.87 per (WBTC / USD) with a current market cap of $10.88B USD. 24-hour trading volume is $358.34M USD. WBTC to USD price is updated in real-time. Wrapped Bitcoin is -2.47% in the last 24 hours with a circulating supply of 125,330.51.

WBTC Price History USD

Date Comparison	Amount Change	% Change
Today	$-2,198.78	-2.47%
30 Days	$-372.69	-0.43%
60 Days	$-3,675.41	-4.06%
90 Days	$-27,302.83	-23.93%

Wrapped Bitcoin Chart Performance

24h Low & High

Low: $85,979.80

High: $88,921.78

The highest and lowest price paid for this asset in 24 hours.

All Time High

$125,777.45

The highest price paid for this asset since it was launched or listed.

Price Change (1h)

+0.36%

The percentage change in price for this asset compared to 1 hour ago.

Price Change (24h)

-2.47%

The percentage change in price for this asset compared to 24 hours ago.

Price Change (7d)

-6.21%

The percentage change in price for this asset compared to 7 days ago.

24h Low & High

Low: $85,979.80

High: $88,921.78

All Time High

$125,777.45

Price Change (1h)

+0.36%

Price Change (24h)

-2.47%

Price Change (7d)

-6.21%

Wrapped Bitcoin Market Stats

Popularity

#8751

Popularity is based on the relative market cap of assets.

Market Cap

$10.88B

Market cap is calculated by multiplying the asset's circulating supply with its current price.

Volume (24hours)

$358.34M

The total dollar value of all transactions for this asset over the past 24 hours.

Circulation Supply

125,330.51

The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.

Total Maximum Supply

The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.

Fully Diluted Market Cap

$10.88B

About Wrapped Bitcoin (WBTC)

Wrapped Bitcoin (WBTC) is a wrapped form of Bitcoin developed to give Bitcoin holders the ability to participate in popular decentralized finance (DeFi) protocols on the Ethereum network. WBTC is an ERC-20 token and therefore, gives Ethereum the advantage of inviting liquidity from the Bitcoin ecosystem onto the Ethereum network. WBTC is traded on decentralized exchanges (DEXs) and utilized as collateral in lending and derivatives platforms, bridging Bitcoin's liquidity with Ethereum's DeFi ecosystem.

In order to create WBTC tokens, BTC holders submit requests to obtain newly issued tokens from a merchant who performs KYC and AML (Know Your Customer and Anti-Money Laundering) checks. The merchant then initiates the required transaction with an official custodian in order to mint the WBTC tokens before sending them into the custody of the merchant.

At this point, the requesting customer is able to swap BTC for WBTC with the merchant via a centralized exchange (CEX), decentralized exchange (DEX), or atomic swap. It is important to note that only merchants are empowered to redeem WBTC for BTC tokens in this protected process.

Due to the purpose of Wrapped Bitcoin and its unique minting process, there is a low circulating supply of WBTC. This is always the same as the total maximum supply, since it grows only as new tokens are minted. Currently, 132.51K WBTC tokens are in active circulation. The current price of WBTC is available and updated in real-time on Binance.

People Also Ask: Other Questions About Wrapped Bitcoin

What Is Wrapped Bitcoin (WBTC) Used For?

Wrapped Bitcoin is primarily used as an intermediary token for Bitcoin holders to enter the Ethereum network for the main purpose of interacting in DeFi applications in the ERC-20 ecosystem. Since Ethereum was designed several years after Bitcoin with decentralized application (DApp) technology, smart contracts and other protocols that enable further innovations beyond the BTC environment, Wrapped Bitcoin benefits both networks.

How Is Wrapped Bitcoin (WBTC) Created / Made?

Wrapped Bitcoin (WBTC) is created by merchants who field requests from individuals for the issuance of WBTC tokens in exchange for Bitcoin. Once the requests are received and KYC done, the merchant then has the minting process completed by an official WBTC custodian who sends the coins to the merchant. The original requestor then swaps their BTC with the merchant for the newly minted WBTC via CEX, DEX or atomic swap.

Who is the Founder of Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin was originally founded and launched by BitGo, Kyber Network, and Ren in 2019 but is now managed and governed by a decentralized autonomous organization (DAO) consisting of more than 30 members.

What Is The Maximum Token Supply Of Wrapped Bitcoin (WBTC)?

Since WBTC tokens are issued as requests are submitted and answered for newly minted tokens, their total supply grows in tandem with this process. This means WBTC’s circulating and maximum supply are always the same. At the time of writing, the total number of WBTC tokens in circulation is 132.51K.

How does Consensus and Validation Work on Wrapped BTC?

On WBTC, a consortium of merchants holds the Bitcoin collateral in custody and issues an equivalent amount of WBTC tokens. These tokens are then used on the Ethereum network, where they are secured by a network of trusted validators who verify transactions and maintain the integrity of the network through a consensus algorithm based on Proof of Authority.

What Is Different About Wrapped Bitcoin (WBTC)?

The ability for BTC holders to easily bridge over to the Ethereum network through Wrapped Bitcoin is what truly makes this digital asset unique. WBTC bridges and ties the two independent ecosystems together, making it a flexible option for BTC holders who want to be ictive in ERC-20 DApps and the rest of its blockchain processes.

How To Buy Wrapped Bitcoin (WBTC)?

WBTC can be purchased directly from Binance using a debit or credit card. It can also be traded for other cryptocurrencies on the Binance exchange. Live WBTC price is updated in real time on Binance. For additional instructions and information, users can read our How to buy Wrapped Bitcoin (WBTC) Guide.