Wrapped Bitcoin
WBTC Price
How is the price of Wrapped Bitcoin (WBTC) calculated?
The price of Wrapped Bitcoin (WBTC) is calculated in real-time by aggregating the latest data across 84 exchanges and 249 markets, using a global volume-weighted average formula. Learn more about how crypto prices are calculated on CoinGecko.
Wrapped Bitcoin Price Chart (WBTC)
| 1h | 24h | 7d | 14d | 30d | 1y |
|---|---|---|---|---|---|
| 0.2% | 1.0% | 1.3% | 7.7% | 4.5% | 118.4% |
WBTC Converter
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Market Cap
Market Cap = Current Price x Circulating Supply
Refers to the total market value of a cryptocurrency’s circulating supply. It is similar to the stock market’s measurement of multiplying price per share by shares readily available in the market (not held & locked by insiders, governments) Read More |
$9,023,101,824 |
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Market Cap / FDV
The proportion of current market capitalization compares to market capitalization when meeting max supply.
The closer the Mkt Cap/FDV to 1, the closer the current market capitalization to its fully diluted valuation and vice versa. Learn more about Mkt Cap/FDV here. |
1.0 |
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Market Cap / TVL Ratio
Ratio of market capitalization over total value locked of this asset. A ratio of more than 1.0 refers to its market cap being greater than its total value locked.
MC/TVL is used to approximate a protocol’s market value vs. the amount in assets it has staked/locked. |
1.01 |
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Fully Diluted Valuation
Fully Diluted Valuation (FDV) = Current Price x Total Supply
Fully Diluted Valuation (FDV) is the theoretical market capitalization of a coin if the entirety of its supply is in circulation, based on its current market price. The FDV value is theoretical as increasing the circulating supply of a coin may impact its market price. Also depending on the tokenomics, emission schedule or lock-up period of a coin's supply, it may take a significant time before its entire supply is released into circulation. Learn more about FDV here. |
$9,023,101,824 |
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Fully Diluted Valuation / TVL Ratio
Ratio of fully diluted valuation (FDV) over total value locked (TVL) of this asset. A ratio of more than 1.0 means that the FDV is greater than its TVL.
FDV/TVL is used to approximate a protocol’s fully diluted market value vs. the amount in assets it has staked/locked. |
1.01 |
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24 Hour Trading Vol
A measure of a cryptocurrency trading volume across all tracked platforms in the last 24 hours. This is tracked on a rolling 24-hour basis with no open/closing times.
Read More |
$212,183,172 |
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Total Value Locked (TVL)
Capital deposited into the platform in the form of loan collateral or liquidity trading pool.
Data provided by Defi Llama |
$8,974,607,480 |
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Circulating Supply
The amount of coins that are circulating in the market and are tradeable by the public. It is comparable to looking at shares readily available in the market (not held & locked by insiders, governments).
Read More |
150,281 |
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Total Supply
The amount of coins that have already been created, minus any coins that have been burned (removed from circulation). It is comparable to outstanding shares in the stock market.
Total Supply = Onchain supply - burned tokens |
150,281 |
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Max Supply
The maximum number of coins coded to exist in the lifetime of the cryptocurrency. It is comparable to the maximum number of issuable shares in the stock market.
Max Supply = Theoretical maximum as coded |
150,281 |
WBTC Historical Price
| 24h Range | $58,825.91 – $61,212.77 |
|---|---|
| 7d Range | $59,057.12 – $63,802.78 |
| All-Time High |
$73,505.50
18.3%
Mar 14, 2024 (7 months)
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| All-Time Low |
$3,139.17
1814.0%
Apr 02, 2019 (over 5 years)
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How do you feel about WBTC today?
What is Wrapped Bitcoin (WBTC)?
Wrapped Bitcoin is an ERC-20 token on the Ethereum blockchain that represents Bitcoin. Each WBTC is backed 1:1 with Bitcoin. Wrapped Bitcoin allows for Bitcoin transfers to be conducted quicker on the Ethereum blockchain and opens up the possibility for BTC to be used in the Ethereum ecosystem. Bitcoin is held in custody by the centralized custodian, BitGo. Bitcoin can be converted to Wrapped Bitcoin and vice versa easily.
How was Wrapped Bitcoin founded?
WBTC was launched in January 2019. BitGo, Kyber Network and Ren collaborated to find a way for users to bring more liquidity into the Ethereum ecosystem and that’s how Wrapped Bitcoin was created.
What problem does WBTC solve?
Most Decentralized Finance (DeFi) activities take place on the Ethereum blockchain and Bitcoin holders have no access to a wide selection of DeFi applications which includes features like lending, borrowing, trading and more. WBTC helps transfer the value of Bitcoin into the Ethereum blockchain so that users could start generating higher returns with their Bitcoin.
Who are the key players in the WBTC ecosystem?
There are a few key players in the WBTC ecosystem. They are:
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Custodian - Custodians are institutions that store crypto assets. In the case of WBTC, BitGo is responsible for custodying Bitcoin
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Merchant - Merchants play a key role in the distribution of WTBC by minting or burning WBTC
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Users - Users are holders of WBTC. Users can use WBTC to transfer and transact like any other ERC20 token in the Ethereum ecosystem
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WBTC DAO Member - WBTC DAO is the governing body that is responsible for contract changes and the addition/removal of custodian and merchant. This governance body helps decentralize the network via multisig contracts which requires all members to reach consensus before initiating a change.
How to convert BTC to WBTC?
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To convert BTC to WBTC, a user may visit any of the platforms that is labeled “Merchant” in the WBTC partners page.
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The user is required to verify his identity through a Know Your Customer (KYC) procedure.
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After that, the user is required to transfer his BTC to the merchant’s BTC wallet.
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Once the merchant receives the BTC, the merchant will then notify the custodian, BitGo, the amount of WBTC to be minted.
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After obtaining 6 confirmations of the BTC transaction, the custodian will then produce an equivalent amount of WBTC.
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Finally, the WBTC will be sent to the user’s Ethereum wallet.
How to convert WBTC to BTC?
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User initiates request to redeem BTC with WTBC.
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The merchant will create a burn transaction for the amount of WBTC to be redeemed.
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After 25 Ethereum block confirmations, the custodian will release an equivalent amount of BTC to the merchant’s Bitcoin address.
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Custodian makes an Ethereum transaction marking the burn request as completed.
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The user undergoes KYC procedure to redeem BTC.
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After that is done, the merchant will send BTC to the user’s BTC wallet address.
How to keep track of WBTC?
The conversion between WBTC and BTC is completed in a transparent manner. Users may refer to WBTC’s orderbook dashboard to see a record of all minting and burning of WBTC on the Ethereum network. Also, users can access WBTC’s proof of assets dashboard to view the transaction amount and the total amount of BTC held under custody. This system makes it easy for audits on a regular basis and it is a good method to maintain the trust of its users.
What is the risk of using WBTC?
Some of the biggest concerns of using WBTC is centralization and trust. All of the BTC backing WBTC are stored at BitGo, a centralized entity. BitGo is viewed as a central point of failure because it’s the only custodian overseeing WBTC at the moment. Also, users have to completely trust BitGo to safely store their BTC and honor the users’ redemption requests.
It is important to note that BitGo is one of the most reputable centralized custodian in the world and they have one of the most advanced coin security protocols in place. Not to forget, they are covered by digital asset insurance worth up to $100 million if anything bad were to occur.
Where can you buy Wrapped Bitcoin?
WBTC tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Wrapped Bitcoin is Dexalot, where the most active trading pair WBTC/USDC has a trading volume of $3,259,684.95 in the last 24 hours. Other popular options include Vertex (Spot) and Uniswap V3 (Ethereum).
What is the daily trading volume of Wrapped Bitcoin (WBTC)?
The trading volume of Wrapped Bitcoin (WBTC) is $211,724,115.54 in the last 24 hours, representing a -26.20% decrease from one day ago and signalling a recent fall in market activity.
What is the all-time high for Wrapped Bitcoin (WBTC)?
The highest price paid for Wrapped Bitcoin (WBTC) is BTC1.6517, which was recorded on Mar 14, 2024 (7 months). Comparatively, the current price is -18.30% lower than the all-time high price.
What is the all-time low for Wrapped Bitcoin (WBTC)?
The lowest price paid for Wrapped Bitcoin (WBTC) is BTC0.7577, which was recorded on Apr 02, 2019 (over 5 years). Comparatively, the current price is 1,814.00% higher than the all-time low price.
What is the market cap of Wrapped Bitcoin (WBTC)?
Market capitalization of Wrapped Bitcoin (WBTC) is BTC150,121.1715 and is ranked #16 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of WBTC tokens (150 Thousand tokens are tradable on the market today).
What is the fully diluted valuation of Wrapped Bitcoin (WBTC)?
The fully diluted valuation (FDV) of Wrapped Bitcoin (WBTC) is BTC150,121.1715. This is a statistical representation of the maximum market cap, assuming the maximum number of 150 Thousand WBTC tokens are in circulation today. Depending on how the emission schedule of WBTC tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of Wrapped Bitcoin compare against its peers?
With a price decline of -1.20% in the last 7 days, Wrapped Bitcoin (WBTC) is underperforming the global cryptocurrency market which is down -0.10%, while underperforming when compared to similar FTX Holdings cryptocurrencies which are up 0.00%.
How to add Wrapped Bitcoin (WBTC) to MetaMask?
Adding Wrapped Bitcoin (WBTC) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import WBTC as a token. You can copy WBTC’s contract address (0x2260fac5e5542a773aa44fbcfedf7c193bc2c599) and import it manually, or if you've installed MetaMask's chrome extension, add WBTC to MetaMask with one click on CoinGecko.
Add WBTC to MetaMask.
Wrapped Bitcoin Markets
| # | Exchange | Pair | Price | Spread | +2% Depth | -2% Depth | 24h Volume | Volume % | Last Updated | Trust Score | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |
DEX
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$60,024.08 | 0.02% | $215,532 | $225,103 | $3,259,684 | 1.54% |
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| 2 |
DEX
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$60,006.78 | 0.01% | $302,196 | $297,552 | $1,861,792 | 0.88% |
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| 3 |
DEX
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$60,029.03 | 0.6% | $1,274,123 | $1,270,295 | $66,214,199 | 31.27% |
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| 4 |
CEX
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$60,094.16 | 0.06% | $109,078 | $444,339 | $3,739,440 | 1.76% |
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| 5 |
DEX
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$60,086.74 | 0.6% | $1,016,500 | $1,013,445 | $16,177,255 | 7.64% |
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| 6 |
DEX
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$60,085.72 | 0.6% | $950,969 | $948,112 | $7,183,464 | 3.39% |
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| 7 |
CEX
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$0.000886062341098078800000000000 | 0.01% | $6,293 | $10,071 | $96,898.00 | 0.05% |
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| 8 |
DEX
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$60,402.35 | 0.6% | $482,593 | $481,143 | $6,349,109 | 3.0% |
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| 9 |
DEX
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$60,207.52 | 0.6% | $59,658 | $59,478 | $5,833,466 | 2.75% |
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| 10 |
DEX
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$60,009.79 | 0.6% | $38,146 | $38,032 | $5,734,592 | 2.71% |
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