Wrapped Bitcoin (WBTC) Hits Market Cap of $4.18 Billion

Wrapped Bitcoin (WBTC) traded up 1.1% against the U.S. dollar during the 1-day period ending at 22:00 PM E.T. on May 26th. One Wrapped Bitcoin token can currently be purchased for approximately $26,723.26 or 1.00068106 BTC on popular cryptocurrency exchanges. Wrapped Bitcoin has a total market cap of $4.18 billion and approximately $100.87 million worth of Wrapped Bitcoin was traded on exchanges in the last day. Over the last week, Wrapped Bitcoin has traded down 0.6% against the U.S. dollar.

Here’s how other cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded up 2.8% against the dollar and now trades at $0.35 or 0.00001297 BTC.
• 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 2.2% lower 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.
• OmniaVerse (OMNIA) traded 0.8% higher against the dollar and now trades at $0.0017 or 0.00000006 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 1.3% higher against the dollar and now trades at $0.0004 or 0.00000002 BTC.
• Lego Coin (LEGO) traded 25.2% higher against the dollar and now trades at $0.0198 or 0.00000074 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 2% against the dollar and now trades at $0.0088 or 0.00000033 BTC.

About Wrapped Bitcoin

Wrapped Bitcoin was first traded on November 27th, 2018. Wrapped Bitcoin’s total supply is 156,449 tokens. Wrapped Bitcoin’s official website is wbtc.network. Wrapped Bitcoin’s official Twitter account is @wrappedbtc and its Facebook page is accessible here.

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.”

Buying and Selling Wrapped Bitcoin

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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Wrapped Bitcoin using one of the aforementioned exchanges.

WBTC/USD price chart by TradingView