Wrapped Bitcoin Hits 24-Hour Trading Volume of $1.03 Billion (WBTC)

Wrapped Bitcoin (WBTC) traded 5.4% lower against the U.S. dollar during the 24 hour period ending at 7:00 AM ET on February 1st. One Wrapped Bitcoin token can currently be purchased for about $78,135.48 or 0.99788976 BTC on major cryptocurrency exchanges. Over the last week, Wrapped Bitcoin has traded down 11.6% against the U.S. dollar. Wrapped Bitcoin has a market capitalization of $9.79 billion and approximately $1.03 billion worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours.

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

• Aidi Finance (BSC) (AIDI) traded 2.2% lower 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.
• 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.
• SolvBTC.BBN (SOLVBTC.BB) traded down 10.5% against the dollar and now trades at $78,474.12 or 0.99372946 BTC.
• SolvBTC (SOLVBTC) traded down 5.3% against the dollar and now trades at $78,415.09 or 1.00146070 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Wrapped Bitcoin Profile

Wrapped Bitcoin’s launch date was January 30th, 2019. Wrapped Bitcoin’s total supply is 125,331 tokens and its circulating supply is 125,330 tokens. The official website for Wrapped Bitcoin is wbtc.network. The official message board for Wrapped Bitcoin is wbtc-network.medium.com. 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.GitHubWhitepaper”

Buying and Selling Wrapped Bitcoin

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