In brief

WBTC surges in the past month


$108,817.00
0.06%$2,615.37
2.04%$2.34
2.47%$659.63
-0.09%$152.89
1.22%$0.999893
0.00%$0.287239
0.08%$0.172112
1.46%$2,616.56
2.02%$0.597325
2.49%$108,635.00
-0.01%$39.12
2.51%$3,159.13
2.09%$2.94
1.96%$505.31
1.54%$14.01
4.86%$9.01
-0.27%$0.267749
5.79%$18.38
1.87%$0.999775
-0.00%$0.00001195
0.88%$2,801.05
1.96%$0.165423
5.20%$2.81
1.40%$2,618.22
2.13%$87.87
1.81%$45.06
0.08%$1.00
0.08%$319.37
1.06%$108,764.00
0.01%$3.49
3.93%$1.001
0.04%$4.34
1.76%$7.85
5.40%$297.83
5.51%$0.00001025
2.17%$0.462532
1.01%$1.18
0.06%$325.47
1.38%$0.094399
15.71%$4.52
2.39%$48.41
0.44%$1.00
0.00%$2.25
4.56%$185.57
1.10%$4.90
2.62%$17.11
3.57%$0.803881
2.44%$1.058
-0.00%$1.00
0.06%$0.078261
3.73%$0.582257
3.11%$4.45
-0.02%$4.19
3.41%$15.96
2.55%$0.205392
9.93%$0.02126784
3.54%$0.67342
0.25%$8.74
2.55%$0.079711
1.02%$0.265604
3.73%$0.33866
2.74%$0.00002161
-5.32%$3.22
1.67%$108,869.00
0.80%$2.34
3.31%$2,616.32
2.10%$0.183075
4.67%$107.38
0.28%$4.53
0.56%$0.871626
0.45%$0.26431
4.59%$0.999786
0.01%$0.998798
0.06%$162.18
1.22%$11.09
0.42%$0.998848
-0.08%$0.440196
1.97%$1.42
7.90%$2,743.92
2.10%$2,983.34
2.14%$1.22
-0.51%$1.63
3.03%$0.0160457
0.38%$13.27
-6.00%$1.00
0.02%$0.065809
0.43%$1.053
-4.53%$10.58
1.17%$0.658823
1.19%$0.999862
0.02%$2,804.15
2.41%$2,750.59
2.04%$0.303467
-0.62%$1.47
-0.54%$0.549718
2.23%$1.11
0.03%$3,301.19
-0.85%$0.0146198
-4.70%$108,840.00
0.20%$0.999948
0.01%$0.00009224
9.04%$659.56
-0.09%$108,552.00
0.03%$2,746.55
1.77%$0.148579
-0.47%$3.02
-2.68%$0.086491
3.64%$0.854452
0.85%$109,059.00
-1.20%$3,293.57
-0.86%$0.427776
2.83%$0.506089
0.26%$171.42
1.04%$2.29
1.06%$199.70
1.04%$2,824.03
1.93%$0.546458
7.63%$0.711835
3.60%$111.72
0.01%$10.74
0.04%$0.99802
-0.03%$0.01467693
4.37%$0.727956
2.15%$40.07
3.29%$1.86
0.61%$2.38
8.58%$0.163722
3.81%$19.11
2.91%$1.085
-0.20%$0.255894
5.06%$0.00000062
2.06%$0.230715
1.00%$0.709018
2.46%$0.01230685
2.25%$107,965.00
-0.28%$39.14
2.39%$2,614.74
2.06%$0.997815
-0.02%$0.10149
5.74%$2,803.39
2.22%$0.542898
2.80%$0.00849761
1.25%$108,807.00
0.09%$3.44
1.61%$0.407164
2.85%$2,615.62
2.04%$2,750.55
0.91%$0.342735
4.88%$0.995372
0.47%$0.502251
-2.04%$0.276566
4.71%$108,820.00
0.08%$0.501814
2.69%$0.999773
-0.01%$2,618.15
2.09%$0.998565
-0.05%$24.77
0.16%$0.612351
3.05%$1.36
1.62%$0.227638
-0.91%$0.01371824
0.38%$1.47
8.55%$0.9999
0.01%$39.13
2.38%$0.00000114
15.65%$0.17214
1.50%$7.72
-0.94%$0.04458708
4.07%$2.36
2.17%$0.00000044
-0.08%$0.00434478
-1.20%$0.060583
-0.65%$0.400132
0.93%$0.999919
-0.04%$0.00721692
3.38%$0.116037
3.82%$1.093
0.00%$0.544335
4.66%$2,783.57
2.07%$0.991234
-0.60%$5.64
3.91%$13.83
3.73%$1.002
0.21%$0.075736
3.96%$2,613.18
2.03%$40.67
0.14%$0.146462
-1.64%$0.00001888
2.93%$0.235051
18.59%$1.00
0.02%$0.307462
1.44%$0.145987
1.45%$108,704.00
0.36%$2.20
2.99%$0.505618
0.30%$0.361547
0.98%$1.16
2.55%$2,884.55
2.03%$1.47
0.75%$0.946093
-0.27%$0.03643275
3.53%$0.0038311
2.37%$2,862.19
2.06%$5.28
4.83%$1.19
4.19%$0.03464827
0.66%$20.53
-0.11%$2,615.71
2.02%$0.01737856
0.39%$0.04617738
1.39%$108,748.00
0.18%$0.999917
0.01%$0.00616483
2.84%$0.323084
2.66%$0.488846
3.02%$0.00005821
3.77%$2,613.86
2.09%$167.09
1.12%$0.99923
0.02%$0.067471
4.83%$0.999628
0.01%$0.999618
0.01%$10.32
-0.39%$0.672504
2.62%$0.303196
-4.24%$113.92
2.42%$0.205308
9.75%$1.093
2.61%$0.712067
2.32%$3,170.57
2.17%$1.00
-0.01%$0.727278
8.64%$0.294262
2.55%$0.00341178
0.51%$0.206098
7.64%$1.019
-0.02%$18.37
1.84%$1.21
-0.13%$0.00000136
1.02%$106,468.00
-0.94%$108,668.00
0.11%$0.59837
1.56%$2,184.85
-0.08%$15.95
1.92%$1.66
1.63%$0.269192
10.35%$0.02681592
1.09%Reading
The total amount and value of tokenized Bitcoin on the Ethereum blockchain has sharply increased since mid-May, with over $101 million worth of BTC now held in tokens such as Wrapped Bitcoin (WBTC), renBTC, HBTC, imBTC, sBTC and others.
WBTC and similar tokens represent Bitcoin on the Ethereum blockchain. One tokenized BTC equals one “regular” BTC; Bitcoin can be converted into these tokens, and vice-versa.
To achieve this, users lock up their BTC on the Bitcoin blockchain using specialized custodian services or smart contracts. After that, the corresponding amount of tokenized BTC is created on Ethereum, which can then be used on its blockchain.
WBTC, being the most popular tokenized Bitcoin by far, accounts for the lion’s share of this niche—there are currently around 8,200 BTC converted into Ethereum tokens, worth roughly $74.9 million, according to DeFi Pulse. Notably, the amount of Bitcoin locked as WBTC has surged sharply over the past month and a half.
As Decrypt reported on May 11, the amount and value of WBTC tokens locked in Ethereum saw a new all-time high—at the time, at least—reached around 1,300 tokenized Bitcoin—or $11.4 million in total. Since then, the number of WBTC has grown more than sixfold to hit 8,200.
RenBTC, another tokenized Bitcoin that was launched in mid-May, is currently in second place, with just over 1,000 tokens on Ethereum right now (worth around $9.9 million according to Etherscan).
The third, fourth and fifth places are occupied by HBTC, imBTC and sBTC, accounting for 710 ($6.45 million), 608 ($5.53 million) and 512 ($4.65 million) tokenized Bitcoin, respectively.
Other tokens amount to nearly $350,000 worth of Bitcoin or less.
One of the main reasons for the surge in tokenized BTC is likely down to the growth of decentralized finance (DeFi) applications.
The rapidly growing decentralized finance industry has a new top crypto. Compound’s COMP token went live for trading yesterday, and it has already overtaken Maker, the previous king of DeFi, in market capitalization by a wide margin. COMP not only surpassed MakerDAO, it now has close to twice as much total market cap at roughly $859 million versus $551 million, according to DeFi data tracking website DeFiMarketCap. What’s more, the addition of COMP to the ranking has sent the total market capit...
DeFi has come into the spotlight in recent weeks, after lending platform Compound’s COMP token became the largest DeFi token by market capitalization in just one day in mid-June, increasing its price by 62%.
Since Bitcoin doesn’t have the DeFi infrastructure that allows Ethereum token holders to lend their assets and receive passive yields, it appears that Bitcoin holders are turning to wrapped BTC tokens in order to use their assets in the rapidly growing DeFi market.
Ethereum NFT collection Goblintown is looking to shake up the meme coin market, dropping its own meme coin—GOB—on the Solana blockchain with a new token model designed to refresh the meme coin experience. The token, which was launched in stealth late Tuesday by Truth Arts’ wholly owned subsidiary Exploding Goblin LLC, aims to solve the longevity issues of new meme coins with a multi-pronged approach that Goblintown co-founder Alex Taub says is the product of studying other launches from the tre...
Hackers appear to be targeting an old Bitcoin address holding over $8 billion in digital coins stolen from collapsed crypto exchange, Mt. Gox. As first flagged by BitMEX Research, would-be attackers sent the address—1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF—a transaction using OP_RETURN. OP_RETURN—which has been controversial among some users—is a way of storing information on Bitcoin's blockchain. In this case, the transaction sent to the wallet contains text displaying a website address, in an appar...
Bitcoin price volatility has sunk to historical lows with its price hovering about 2% off its all-time high, but QCP Capital analysts are warning investors to "beware the quiet." "Volatility may be on summer break, but Q3 and Q4 could still deliver fireworks," the analysts wrote in a recent blog post. The current low volatility is a sign that markets have priced in a Goldilocks scenario with delayed tariffs, rate cuts from the Federal Open Markets Committee later this year, and sustained fiscal...