$103,959.00
-1.94%$2,442.08
-4.37%$2.14
-1.33%$641.38
-0.94%$142.30
-3.99%$0.999782
-0.01%$0.274157
-0.16%$0.163903
-3.85%$2,441.06
-4.42%$0.585159
-2.87%$103,788.00
-1.98%$35.17
-5.54%$2,945.17
-4.22%$470.84
-3.64%$2.73
-3.79%$12.71
-3.23%$8.94
-0.09%$0.244392
-2.30%$17.55
-3.77%$2.96
-0.20%$0.999754
-0.01%$49.10
-0.96%$0.00001141
-2.92%$2,441.58
-4.45%$2,612.48
-4.37%$83.36
-2.67%$0.999769
-0.03%$0.146038
-2.09%$316.94
-0.16%$1.00
-0.05%$3.49
-0.71%$4.31
-0.82%$103,950.00
-2.05%$0.00001002
-3.39%$7.00
-10.50%$0.538596
-0.71%$248.21
-4.79%$1.18
-0.01%$51.57
-3.91%$342.45
-3.02%$4.67
5.24%$1.00
0.00%$0.088098
-2.65%$4.99
-1.86%$1.056
0.02%$2.09
-4.31%$172.29
-4.12%$16.20
-3.64%$0.741018
-4.37%$28.38
-2.51%$1.00
0.04%$0.641486
1.37%$16.83
-0.28%$4.45
0.06%$9.25
-1.30%$0.02119498
-3.10%$3.98
-1.77%$0.068584
-3.56%$103,638.00
-2.06%$0.654126
-4.98%$0.18706
-1.76%$0.077459
-3.73%$0.269551
-6.88%$3.09
-3.42%$2.30
-2.78%$0.996503
-0.05%$4.32
-1.93%$2,440.94
-4.49%$0.168982
-0.59%$0.999778
-0.02%$0.886033
-5.63%$0.289915
-5.99%$95.67
-4.76%$0.999782
0.00%$11.01
-1.01%$150.40
-3.81%$0.224041
5.69%$1.20
-1.64%$0.01730435
-1.67%$0.389276
-4.38%$2,779.82
-4.39%$0.193282
-2.38%$2,556.99
-4.43%$11.14
-3.05%$1.59
-3.95%$0.00001372
-4.88%$0.999818
-0.01%$1.56
-10.47%$1.00
0.01%$0.999233
-0.04%$1.061
-21.42%$0.54636
-4.29%$0.058918
0.79%$0.942513
-9.14%$0.613226
-5.48%$2,616.71
-4.23%$2,560.92
-4.43%$103,934.00
-1.75%$0.27799
-13.57%$3,395.03
0.56%$641.58
-0.95%$103,725.00
-2.04%$3,379.44
0.55%$2,567.36
-4.13%$104,994.00
-1.09%$0.081078
-4.65%$0.50445
-2.63%$1.11
-0.03%$0.576713
-1.77%$2.69
-3.16%$0.767654
-4.07%$0.394688
-3.70%$0.01143751
-20.42%$2.15
-5.40%$158.81
-4.25%$111.51
0.03%$2.18
-2.07%$185.27
-4.10%$0.00007221
-4.04%$0.829029
-4.57%$2,637.90
-4.45%$0.998614
0.00%$0.660841
-4.89%$40.30
-3.74%$0.719769
-6.71%$1.092
-0.08%$0.01399988
-3.07%$18.88
-5.05%$0.160912
-3.62%$30.96
-3.75%$0.250977
-2.71%$0.997605
-0.01%$3.71
-3.80%$0.0122675
-2.44%$0.009435
-1.09%$0.0000006
-1.85%$103,510.00
-1.96%$0.418681
-4.35%$0.999872
0.02%$2.08
-2.36%$0.522682
-2.46%$0.208513
0.27%$103,613.00
-1.89%$0.540038
-2.40%$2,440.16
-4.53%$0.338127
-2.87%$0.093472
-6.16%$2,441.50
-4.46%$35.19
-5.51%$2,616.59
-4.10%$103,776.00
-2.15%$2,441.58
-4.44%$2,506.05
-6.45%$0.620622
-1.83%$0.998707
0.03%$0.252587
-1.97%$0.450136
-10.06%$1.36
-3.94%$0.01350466
-1.95%$7.85
-6.84%$0.412332
0.80%$2.39
-8.13%$47.91
-5.29%$0.060753
-1.38%$0.999711
-0.01%$0.999859
0.01%$1.00
0.01%$0.163722
-3.83%$0.00000041
0.32%$1.091
-0.01%$35.19
-5.39%$0.997988
0.04%$0.04051139
-7.14%$1.005
0.10%$0.489269
-3.91%$0.384268
3.57%$13.48
-2.95%$5.42
-4.26%$2,438.79
-4.41%$1.23
-2.92%$2,593.96
-4.39%$0.00001883
-2.93%$0.109878
-3.17%$0.372242
-0.92%$0.00398467
-3.32%$0.071817
-2.26%$0.504519
-2.65%$2.22
-2.58%$0.306166
-5.90%$0.00623632
-6.09%$0.930912
-7.81%$0.03499326
5.41%$1.19
-11.73%$0.131981
0.17%$1.10
-7.70%$2,691.77
-4.43%$5.16
-4.91%$0.00393085
-4.42%$0.03480957
-2.21%$0.034006
0.92%$0.161093
1.43%$0.01736649
-0.65%$1.37
-5.42%$0.131974
-1.80%$103,701.00
-2.08%$2,673.12
-4.23%$104,262.00
-1.60%$19.40
-0.89%$0.00005811
0.19%$0.31626
-4.25%$0.00000081
-9.86%$2,441.85
-4.40%$0.999931
-0.01%$0.999233
0.00%$0.00312103
-8.25%$0.999011
0.05%$155.02
-3.95%$0.999919
-0.00%$0.725625
-1.22%$0.00000146
-2.74%$0.453626
-3.60%$1.084
-4.04%$2,434.37
-4.60%$0.0034633
-3.17%$108.94
-2.60%$0.06139
-5.85%$0.999336
-0.09%$104,066.00
-1.75%$9.48
0.10%$0.61067
-1.11%$1.71
0.70%$17.55
-3.61%$0.28061
-5.51%$1.016
0.01%$0.187166
-1.63%$0.00513223
-4.58%$0.661377
-16.74%$0.581369
-3.58%$2,087.95
-1.96%$0.01673911
-0.05%$97,711.00
-5.08%$0.182338
-3.75%$6.08
-3.52%$0.504184
3.13%$101,291.00
-1.78%$14.52
-1.55%$0.00353101
-3.79%$0.999546
0.03%Reading
The amount of Bitcoin converted into Ethereum-based ERC-20 tokens had hit $1.2 billion, per data from Dune Analytics. This means that 0.5% of all of Bitcoin’s market cap has been ported to the Ethereum blockchain, also equivalent to 3% of Ethereum’s market cap.
This is the most Bitcoin that's moved over to the Ethereum blockchain to date. Just weeks ago, the figure was less than half what it is today, sitting at just over $500 million.
The Bitcoin blockchainblockchain is incompatible with the EthereumEthereum blockchain, but it’s possible to stake Bitcoin in certain protocols and receive synthetic, Ethereum-based Bitcoin. These are ERC-20 tokens—the generic token standard on Ethereum—that represent BitcoinBitcoin.
Popular options include wBTC, renBTC and the newly launched tBTC. Some, such as wBTC, are custodial, meaning that you give your Bitcoin to a company and they’ll give you wBTC, also known as Wrapped Bitcoin, in return. Others, such as tBTC, are non-custodial, meaning that you give your Bitcoin to a protocol and the code—not a company—issues you with tBTC.
People might port Bitcoin over to Ethereum to enjoy the full spectrum of decentralized financedecentralized finance (DeFi) products, such as non-custodial lending protocols, decentralized exchanges and (yet more) synthetic assets. These sorts of crypto-lending and yield-generating services are otherwise largely unavailable to Bitcoin holders.
Bitcoin is the world’s first, largest, and most-recognized crypto asset. Since Bitcoin’s creation over a decade ago, the technology behind the revolutionary “peer-to-peer electronic cash system” has largely remained the same. But Bitcoin isn't the be-all and end-all of cryptocurrency. On smart contract blockchains such as Ethereum, developers have created a thriving decentralized finance (DeFi) ecosystem. In order to use Bitcoin within Ethereum's DeFi ecosystem, it's necessary to create an ERC-...
DeFi is this summer’s great, big, new thing, partly responsible for this summer’s Ethereum bull run. As of this writing, $10.5 billion is locked up in DeFi smart contracts, per metrics site DeFi Pulse. Its rise is, again in part, due to the new token distribution mechanisms, such as giving out so-called governance tokens—tokens that let holders vote on proposals to update the network—for using the protocols.
Some, such as Set Protocol, issue these yield farming rewards—the practice is known as yield farming—for wBTC, i.e. synthetic Bitcoin.
1/ Announcing the launch of the second yield farming strategy on @tokensets - the ETH WBTC Yield Farming Set!
Like the recently launched ETH USD Yield Farming Set, this strategy auto-farms the $UNI token on Uniswap.
Check it out here: https://t.co/zZzybd7YA9 pic.twitter.com/ikGwMX829p
— Set ⚖️ (@SetProtocol) September 24, 2020
wBTC is the most popular synthetic Bitcoin on Ethereum; it has 73.6% of the market’s supply. renBTC has 18.4%, and Huobi BTC, or hBTC, has 4.2%.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Texas sheriffs used power tools this week in retrieving $32,000 from a Bitcoin ATM after a Jasper County family said they were scammed out of funds, according to local law enforcement. The family said it had lost $25,000 to the fraudsters. An image shared by the Jasper County Sheriff’s Office on Facebook shows sparks flying as an official uses what appears to be a circular saw to crack into a Bitcoin Depot kiosk. Other images show stacks of hundred dollar bills, evidence bags, and a gas station...
The price of Bitcoin was little changed on Friday as U.S. Federal Reserve Governor Christopher Waller argued that the U.S. central bank could start lowering interest rates as early as July. Bitcoin was recently changing hands at $104,300, flat over the past day and down 0.6% since Israel and Iran began exchanging missile attacks a week ago, according to crypto data provider CoinGecko. Ethereum was flat over the past 24 hours to trade just around $2,500, while Solana ticked up slightly. With infl...
USDC issuer Circle was buoyant in pre-market trading Friday, climbing above $236 ahead of the opening bell. That put it ahead of the $235 price target set by Wall Street research firm Seaport Global, which initiated coverage of the company today with a buy rating. But once the bell rang, the company's stock, which trades on the NYSE under the CRCL ticker, settled and is currently changing hands around $228, or 14% higher than its previous close. Seaport announced that it was initiating coverage...
