Wrapped Bitcoin (WBTC) Hits Market Cap of $4.10 Billion

Wrapped Bitcoin (WBTC) traded 0.3% lower against the U.S. dollar during the twenty-four hour period ending at 0:00 AM ET on March 18th. Wrapped Bitcoin has a market capitalization of $4.10 billion and approximately $267.37 million worth of Wrapped Bitcoin was traded on exchanges in the last day. One Wrapped Bitcoin token can now be bought for about $27,279.30 or 0.99973034 BTC on major cryptocurrency exchanges. Over the last week, Wrapped Bitcoin has traded 31.4% higher against the U.S. dollar.

Here is how related cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded down 9.6% against the dollar and now trades at $0.40 or 0.00001481 BTC.
• Aidi Finance (BSC) (AIDI) traded 0.3% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 1.9% lower against the dollar and now trades at $0.0667 or 0.00000246 BTC.
• CareCoin (CARES) traded 1.9% lower against the dollar and now trades at $0.0827 or 0.00000306 BTC.
• OmniaVerse (OMNIA) traded 49.4% higher against the dollar and now trades at $0.0012 or 0.00000005 BTC.
• Kitty Inu (KITTY) traded 1.9% lower against the dollar and now trades at $98.93 or 0.00365664 BTC.
• FEG Token (FEG) traded down 1.9% against the dollar and now trades at $0.0008 or 0.00000003 BTC.
• Hokkaidu Inu (HOKK) traded 1.3% lower against the dollar and now trades at $0.0007 or 0.00000002 BTC.
• QANplatform (QANX) traded 1.9% lower against the dollar and now trades at $7,190.88 or 0.26577750 BTC.
• Lego Coin (LEGO) traded 21.1% higher against the dollar and now trades at $0.0171 or 0.00000063 BTC.

Wrapped Bitcoin Profile

Wrapped Bitcoin’s genesis date was November 27th, 2018. Wrapped Bitcoin’s total supply is 150,251 tokens. Wrapped Bitcoin’s official Twitter account is @wrappedbtc and its Facebook page is accessible here. Wrapped Bitcoin’s official website is wbtc.network.

According to CryptoCompare, “Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. WBTC standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers.

To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC / AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with Bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user.”

Wrapped Bitcoin Token Trading

It is usually not presently possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using U.S. dollars. Investors seeking to trade Wrapped Bitcoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Wrapped Bitcoin using one of the exchanges listed above.

WBTC/USD price chart by TradingView