Wrapped Bitcoin (WBTC) Sees a 4.5% Increase in Trading Value This Week

Wrapped Bitcoin (WBTC) saw an increase in value by 2.6% compared to the U.S. dollar over a 24-hour period ending at 7:00 AM Eastern Time on July 14th. Wrapped Bitcoin boasts a market capitalization of $9.21 billion, with roughly $161.60 million worth of Wrapped Bitcoin changing hands on exchange platforms the previous day. One Wrapped Bitcoin token is currently valued at around $60,095.31 or 0.99985543 BTC on major exchanges that trade in cryptocurrencies. In the last week, Wrapped Bitcoin has appreciated by 4.5% in relation to the U.S. dollar.

Performance of various cryptocurrencies within the past 24 hours is as follows:

• KILT Protocol (KILT) experienced a 0.4% rise against the dollar, now trading at $0.19 or 0.00000312 BTC.
• Aidi Finance (BSC) (AIDI) fell by 2.2% in value compared to the dollar, currently trading at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) decreased by 2.2% in value against the dollar, with a current trading price of $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) declined by 2.2% against the dollar, now priced at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) climbed 1.9% in value against the dollar, currently trading at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) saw a 1.2% rise in value against the dollar, now trading at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) fell by 2.2% in value compared to the dollar, now trading at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) experienced a slight drop of 0.1% against the dollar, now trading at $0.0130 or 0.00000022 BTC.
• AXIA Coin (AXC) decreased by 0.1% in value against the dollar, now trading at $13.43 or 0.00048094 BTC.

Profile of Wrapped Bitcoin

Wrapped Bitcoin was created on November 27th, 2018. There are 153,282 tokens in total supply of Wrapped Bitcoin. You can visit the official website of Wrapped Bitcoin at wbtc.network. For updates, follow Wrapped Bitcoin on Twitter at @wrappedbtc or visit their Facebook page here.

According to CryptoCompare, “Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin on the Ethereum blockchain designed to deliver enhanced liquidity and to facilitate Bitcoin’s integration into decentralized finance (DeFi). Governed by the WBTC DAO, the token can be interacted with through wallets, decentralized applications (dapps), and smart contracts. WBTC is frequently used in lending, borrowing, exchanging, and for earning yield through farming and liquidity pools on platforms such as Aave, Balancer, Compound, Kyber Network, MakerDAO, and Uniswap. BitGo, Ren, Dharma, Kyber, Compound, MakerDAO, and Set Protocol established WBTC as a collaborative project in January 2019. Token issuance and redemption involves merchants and custodians, with the latter managing BTC deposits and facilitating operations on the Ethereum network.”

Trading Wrapped Bitcoin

Direct purchases of altcoins like Wrapped Bitcoin with U.S. dollars are not widely facilitated at this time. Investors aiming to transact in Wrapped Bitcoin can typically start by acquiring Ethereum or Bitcoin through a U.S. dollar exchange such as Gemini, Changelly, or Coinbase. Subsequently, the purchased Ethereum or Bitcoin can be exchanged for Wrapped Bitcoin on exchanges mentioned above.

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