Wrapped Bitcoin Hits 24 Hour Trading Volume of $1.19 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded 3.8% higher against the U.S. dollar during the one day period ending at 22:00 PM Eastern on August 5th. One Wrapped Bitcoin token can currently be bought for approximately $55,809.43 or 0.99943571 BTC on popular cryptocurrency exchanges. Wrapped Bitcoin has a market cap of $8.65 billion and approximately $1.19 billion worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. In the last seven days, Wrapped Bitcoin has traded down 16.1% against the U.S. dollar.

Here is how similar cryptocurrencies have performed in the last 24 hours:

• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 0.3% against the dollar and now trades at $0.0119 or 0.00000021 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 18.6% lower against the dollar and now trades at $0.0627 or 0.00000114 BTC.

Wrapped Bitcoin Token Profile

Wrapped Bitcoin’s launch date was November 27th, 2018. Wrapped Bitcoin’s total supply is 154,969 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 an ERC-20 token representing Bitcoin on Ethereum. It enhances liquidity and enables Bitcoin’s use in DeFi. Managed by the WBTC DAO, it integrates with wallets, dapps, and smart contracts. WBTC is utilized for lending, borrowing, swapping, yield farming, and liquidity pools in Aave, Balancer, Compound, Kyber Network, MakerDAO, and Uniswap. WBTC was collaboratively launched in January 2019 by BitGo, Ren, Dharma, Kyber, Compound, MakerDAO, and Set Protocol. Merchants and custodians facilitate token minting and burning, with custodians storing BTC and performing transactions on Ethereum.”

Buying and Selling Wrapped Bitcoin

It is usually not possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using US dollars. Investors seeking to trade Wrapped Bitcoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Coinbase 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