Wrapped Bitcoin (CURRENCY:WBTC) traded up 1% against the US dollar during the 24-hour period ending at 15:00 PM E.T. on June 11th. Wrapped Bitcoin has a total market cap of $7.00 billion and approximately $162.58 million worth of Wrapped Bitcoin was traded on exchanges in the last 24 hours. In the last week, Wrapped Bitcoin has traded 0.4% lower against the US dollar. One Wrapped Bitcoin coin can currently be bought for about $37,048.23 or 0.99727925 BTC on exchanges.
Here’s how similar cryptocurrencies have performed in the last 24 hours:
- Cosmos (ATOM) traded 6.2% lower against the dollar and now trades at $12.21 or 0.00032874 BTC.
- Creditcoin (CTC) traded down 2.6% against the dollar and now trades at $3.40 or 0.00009156 BTC.
- Venus (XVS) traded down 8.7% against the dollar and now trades at $23.80 or 0.00064069 BTC.
- Function X (FX) traded 2% lower against the dollar and now trades at $0.36 or 0.00000974 BTC.
- StableXSwap (STAX) traded 0% lower against the dollar and now trades at $3.37 or 0.00009065 BTC.
- mStable USD (MUSD) traded down 2.6% against the dollar and now trades at $0.96 or 0.00002588 BTC.
- Redd (RDD) traded 1.7% higher against the dollar and now trades at $0.0011 or 0.00000008 BTC.
- Darwinia Network (RING) traded 9.9% higher against the dollar and now trades at $0.0505 or 0.00000136 BTC.
- Phantasma (SOUL) traded 6.6% lower against the dollar and now trades at $0.23 or 0.00000610 BTC.
- Nestree (EGG) traded 15.7% lower against the dollar and now trades at $0.0046 or 0.00000012 BTC.
Wrapped Bitcoin Profile
WBTC is a PoW/PoS coin that uses the Scrypt hashing algorithm. Its launch date was November 27th, 2018. Wrapped Bitcoin’s total supply is 189,061 coins. The official website for Wrapped Bitcoin is wbtc.network. Wrapped Bitcoin’s official Twitter account is @WrappedBTC.
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. “
Wrapped Bitcoin Coin Trading
It is usually not possible to purchase alternative cryptocurrencies such as Wrapped Bitcoin directly using US dollars. Investors seeking to trade Wrapped Bitcoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Wrapped Bitcoin using one of the aforementioned exchanges.
