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Wrapped Bitcoin price

$104,936.00

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Wrapped Bitcoin price

WBTC icon
$104,936.00
-1.37% past 24 hours
1H
24H
1W
1M
1Y
5Y
Market statsLast updated
$ 13,52 mld.
129K
$ 280,40 mln.
-$1,462.79
$106,492.29
$103,499.11

About Wrapped Bitcoin (WBTC)

A tokenized version of Bitcoin on the Ethereum blockchain, WBTC allows BTC holders to access decentralized finance (DeFi) applications. Fully backed 1:1 by Bitcoin, WBTC enables fast, secure transactions and interoperability with Ethereum-based protocols.

What is Wrapped Bitcoin (WBTC)

A Deep Dive on Wrapped Bitcoin

Wrapped Bitcoin (WBTC) acts as a bridge connecting Bitcoin to Ethereum. By connecting these two blockchains together, WBTC allows the world’s largest cryptocurrency to be used in the world’s largest decentralized finance (DeFi) ecosystem. WBTC is an ERC-20 token backed 1:1 by Bitcoin, allowing BTC holders to use their assets on Ethereum-based platforms. It brings Bitcoin’s value and security to Ethereum’s smart contract ecosystem for lending, trading, and more.

Overview and Purpose

WBTC addresses a fundamental challenge in the cryptocurrency ecosystem — Bitcoin's incompatibility with smart contract platforms. Bitcoin's unique Script programming language makes it incompatible with DeFi services on networks like Ethereum and Solana, which use different programming languages. WBTC solves this by creating a synthetic token version of Bitcoin that works seamlessly with smart contract-based services, while still being backed by actual BTC held in reserves.

Network Architecture

WBTC operates primarily on the Ethereum blockchain as an ERC-20 token, enabling it to interact with Ethereum's decentralized application ecosystem. The system relies on a network of partners including merchants and custodians, with BitGo serving as the central custodian responsible for securing the underlying Bitcoin assets. The conversion process between BTC and WBTC maintains a strict 1:1 ratio, ensuring each WBTC token is fully backed by Bitcoin.

WBTC Token Fundamentals

The WBTC token functions as a synthetic crypto asset that enables holders to participate in DeFi protocols. Users can deploy their WBTC to earn yield or use it as collateral for crypto loans, expanding the utility of their Bitcoin holdings. The conversion between BTC and WBTC can be accomplished either through direct interaction with WBTC Merchants (requiring KYC verification) or through supported exchanges.

Supply Characteristics

WBTC maintains a maximum supply cap of 21,000,000 tokens, mirroring Bitcoin's total supply limit. New WBTC tokens are issued only when BTC is deposited in BitGo's custodial account, maintaining a strict 1:1 backing ratio. This means the supply of WBTC is directly tied to the amount of Bitcoin held in custody.

Project Development

WBTC was launched on January 30, 2019, through a collaborative effort of three prominent DeFi projects: BitGo, Kyber Network, and Ren. The founding team includes notable blockchain industry figures:

  • Mike Belshe, BitGo's co-founder and CEO, who brought extensive security expertise from his work at Google
  • Taiyang Zhang and Loong Wang, co-founders of Ren, who contributed their expertise in blockchain interoperability
  • Loi Luu, CEO and co-founder of Kyber Network, who provided critical knowledge in decentralized exchange protocols

The project is supported by a network of partners, including merchants, custodians, exchanges, and DAO members, each of which play an important role in maintaining and growing the WBTC ecosystem.

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Wrapped Bitcoin (WBTC) Price Today

Wrapped Bitcoin price today is $104,936.00.

11 WBTC was purchased today on Kraken worth $1,137,986. Check out the WBTC chart above for more real time price data. Want to get updates on the latest crypto prices on-the-go? Sign up today to receive WBTC price alerts. Kraken lets you buy and sell 430 cryptocurrencies, including WBTC. There are some geographic restrictions which may affect the assets that are available in your verified country of residence. View all crypto prices.

Wrapped Bitcoin (WBTC) Price History

Wrapped Bitcoin price is +59.81% over the last year. The highest price of WBTC in the last year was $111,202.74 and the lowest price of Wrapped Bitcoin in the last year was $53,814.17.

24h
-1.37%
7d
-4.25%
1m
+1.56%
1y
+59.81%

Categories

Kraken classes Wrapped Bitcoin to be within the following categories: Wrapped, Solana Ecosystem, Ethereum Ecosystem.

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Wrapped Bitcoin FAQ

Can I trade Wrapped Bitcoin at a lower price?

Yes, you can choose what price you pay for Wrapped Bitcoin using Custom Orders on Kraken. If the price of Wrapped Bitcoin reaches to your desired price, the order will execute automatically.

Is now a good time to buy Wrapped Bitcoin?

Timing the market can be tough, but dollar cost averaging can help. By setting up recurring buys, you can constantly accumulate Wrapped Bitcoin over time and not worry about whether or not now is the best time to buy.

What is the daily trading volume of Wrapped Bitcoin?

11 WBTC worth $1,137,986 was traded on Kraken in the last 24 hours.

What affects the Wrapped Bitcoin price?

A variety of factors affect the price of Wrapped Bitcoin including market sentiment, technical developments, user adoption and macro economic events.

How do I read the Wrapped Bitcoin price chart?

To read the Wrapped Bitcoin price chart, it can be useful to start by understanding the X-axis (which represents time) and the Y-axis (which represents the price). A line chart connects a crypto asset's closing prices with straight lines to clearly display its performance over time.

How can I analyze prices with the Wrapped Bitcoin chart?

Analyzing price movement using the WBTC chart can involve identifying areas of support and resistance, or using technical analysis which is the study of past price movements to forecast future trends. However, it's important to remember that no method can predict prices with 100% accuracy due to the market's volatility.

Wrapped Bitcoin Dollar Cost Averaging Calculator

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Wrapped Bitcoin markets

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Content provided herein may originate from third parties not associated with Payward Ventures, Inc. (D/B/A Kraken) or any of its subsidiaries. Kraken does not vouch for or take responsibility for such third-party content. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Any reliance on this content is at the reader’s own risk. Kraken shall not be held liable for inaccuracies or any decisions made based on this content. Kraken does not endorse nor validate the accuracy of the information provided for any specific asset. Displayed prices are merely representative and the actual values and related data may differ. The unpredictable nature of the cryptoasset markets can lead to loss of funds.