pTokens BTC [OLD] PBTC

pTokens BTC [OLD] (PBTC) price has increased today.

The price of pTokens BTC [OLD] (PBTC) is $27,553.82 today with a 24-hour trading volume of $85.06. This represents a 2.40% price increase in the last 24 hours and a 2.30% price increase in the past 7 days. With a circulating supply of 16 PBTC, pTokens BTC [OLD] is valued at a market cap of $447,429.

What is pBTC?

pBTC is a wrapped Bitcoin launched by pNetwork. Unlike wBTC and HBTC, where the BTC backing the tokens are custodied under a centralized entity, the BTC backing pBTC is custodied under a smart contract, making it a more decentralized option. 

What is pNetwork?

pNetwork is a Decentralized Autonomous Organization (DAO) that facilitates the movement of different assets across different blockchains. It operates on an open-source system, and a network of validators governs the movement of assets. The task of the validators is to maintain the 1:1 peg of the underlying assets on different blockchain platforms. 

pNetwork is managed by Provable Things, which is one of the blockchain projects invested by Poseidon Group. The group has also been involved in another blockchain project - Eidoo, which provides non-custodial wallet services to cryptocurrency holders. The development of pNetwork expands the Eidoo wallet services to other blockchain platforms.    

How does pNetwork works?

Let’s look at the minting and burning of pBTC. 

- Minting

pTokens are formulated to do the pegging task at a 1:1 ratio. It is automated and powered through smart contracts. Users can send BTC over to the smart contract and receive pBTC in return. Two separate blockchains (Bitcoin and Ethereum) meet within a secure sandbox - Trusted Execution Environment (TEE). The validators verify the number of underlying assets locked and trigger the minting of pTokens.    

- Burning

All pTokens are fully-backed by the underlying assets and can be redeemed at any time.

pTokens holders can burn the pBTC to redeem the underlying BTC through smart contracts. Following the same process above, through TEE, validators will verify the pBTC received and release the BTC to the user. 

How to obtain pBTC?

You can purchase pBTC from Uniswap.

To mint pBTC, users can transfer BTC to the pNetwork smart contract and receive pBTC in return. 

Where can you buy pTokens BTC [OLD]?

PBTC tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade pTokens BTC [OLD] is Uniswap V2 (Ethereum), where the most active trading pair PBTC/WETH has a trading volume of $84.68 in the last 24 hours.

What is the daily trading volume of pTokens BTC [OLD] (PBTC)?

The trading volume of pTokens BTC [OLD] (PBTC) is $85.06 in the last 24 hours, representing a -2.50% decrease from one day ago and signalling a recent fall in market activity.

What is the all-time high for pTokens BTC [OLD] (PBTC)?

The highest price paid for pTokens BTC [OLD] (PBTC) is $5,384,182, which was recorded on Apr 21, 2020 (over 3 years). Comparatively, the current price is -99.50% lower than the all-time high price.

What is the all-time low for pTokens BTC [OLD] (PBTC)?

The lowest price paid for pTokens BTC [OLD] (PBTC) is $4,254.54, which was recorded on Jul 04, 2023 (3 months). Comparatively, the current price is 547.60% higher than the all-time low price.

What is the market cap of pTokens BTC [OLD] (PBTC)?

Market capitalization of pTokens BTC [OLD] (PBTC) is $447,429 and is ranked #2304 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of PBTC tokens (16 tokens are tradable on the market today).

What is the fully diluted valuation of pTokens BTC [OLD] (PBTC)?

The fully diluted valuation (FDV) of pTokens BTC [OLD] (PBTC) is $447,429. This is a statistical representation of the maximum market cap, assuming the maximum number of 16 PBTC tokens are in circulation today. Depending on how the emission schedule of PBTC tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of pTokens BTC [OLD] compare against its peers?

With a price increase of 2.30% in the last 7 days, pTokens BTC [OLD] (PBTC) is outperforming the global cryptocurrency market which is up 1.40%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

What is the market sentiment of pTokens BTC [OLD] today?

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How to add pTokens BTC [OLD] (PBTC) to MetaMask?

Adding pTokens BTC [OLD] (PBTC) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import PBTC as a token. You can copy PBTC’s contract address (0x5228a22e72ccc52d415ecfd199f99d0665e7733b) and import it manually, or if you've installed MetaMask's chrome extension, add PBTC to MetaMask with one click on CoinGecko.

Add PBTC to MetaMask.