The live price of Wrapped Bitcoin is $77,388.28 per WBTC/USD, +0.39% in the last 24 hours. It has a market cap of $9.78B and $7.94M in trading volume over the same period. Prices are averaged across every exchange we track and update continuously.
Current price
$77,388.28
24h high
$79,932.52
24h low
$76,102.00
24h
+0.39%
7d
-3.01%
30d change
+22.63%
WBTC Market Stats
Rank
—
Market Cap
$9.78B
24h Volume
$7.94M
Across 8 exchanges
FDV
—
Circulating Supply
—
Total Supply
—
Max Supply
—
No fixed cap
Listed on
8 exchanges
Website & Community
Contract
ETH0x2260…c599
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Wrapped Bitcoin is a token that represents Bitcoin on other blockchains, maintaining a 1:1 peg. It allows Bitcoin to be used in faster and more scalable environments while preserving the core principles of Bitcoin. The token operates with a custody model that ensures security through controlled minting and burning processes, continuous monitoring, strict access controls, and regular audits, making it a reliable asset for multichain use.
How Are Wrapped Bitcoin Created?
Wrapped Bitcoin is created by converting Bitcoin into an ERC-20 token on the Ethereum network. When a user wants to convert BTC to WBTC, they send their Bitcoin to a custodian, who then mints an equivalent amount of WBTC tokens and sends them to the user's Ethereum address. The process is reversed when WBTC is burned, allowing the user to reclaim their Bitcoin. BitGo acts as the primary custodian, and the WBTC DAO oversees protocol changes and upgrades.
What Can You Do With WBTC?
Since WBTC is an ERC-20 token, it can be used throughout the Ethereum ecosystem. This includes trading on decentralized exchanges like Uniswap and Sushiswap, as well as participating in DeFi protocols such as Aave, Compound, and MakerDAO for lending, borrowing, yield farming, and providing liquidity. WBTC can also be used as collateral for loans or in margin trading. These activities are non-custodial and rely on smart contracts.
Who Are the Founders of Wrapped Bitcoin?
Wrapped Bitcoin was not founded by individuals but is a collaborative effort among three organizations: BitGo, Kyber Network, and Ren. BitGo, co-founded by Mike Belshe, serves as the custodian. Kyber Network, founded by Loi Luu, Victor Tran, and Yaron Velner, acts as a merchant. Ren, founded by Taiyang Zhang and Loong Wang, also contributes as a merchant. Together, they manage the minting and burning of WBTC to maintain the 1:1 peg.
What is Wrapped Bitcoin?
Wrapped Bitcoin (WBTC) is a tokenized representation of Bitcoin designed for use across multiple blockchain networks. It maintains a 1:1 ratio with Bitcoin, allowing users to utilize BTC in environments that emphasize speed and scalability. The asset operates with a custody model that includes controlled minting and burning processes, continuous monitoring, strict access controls, multi-party key management, and regular audits to ensure security and compliance.
The token follows the ERC-20 standard, enabling its integration into the Ethereum ecosystem. Users can convert Bitcoin into WBTC through a custodian, which holds the underlying BTC and mints the corresponding tokens. When WBTC is burned, the user can reclaim their Bitcoin from the custodian. BitGo serves as the primary custodian, while Kyber Network and Ren act as merchants involved in the minting and burning process. The WBTC DAO, composed of governing members, oversees protocol upgrades and changes, with members potentially serving as merchants or custodians.
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WBTC can be traded on decentralized exchanges and used across various DeFi platforms, including lending, borrowing, yield farming, and liquidity provision. It can also serve as collateral for loans or be used in margin trading. The Wrapped Tokens project was jointly developed by BitGo, Kyber Network, and Ren, with each organization contributing to its creation and ongoing operation.
Where to buy Wrapped Bitcoin
Wrapped Bitcoin is available on 8 exchanges. Prices shown are live.
We may earn a commission when you sign up through these links. This never affects the prices shown.
What Makes Wrapped Bitcoin Unique?
Wrapped Bitcoin combines the liquidity and popularity of Bitcoin with the advanced capabilities of Ethereum's smart contracts. This allows Bitcoin to be used in decentralized finance applications like lending and insurance without relying on intermediaries. By integrating Bitcoin into the Ethereum ecosystem, WBTC enables users to access a wider range of financial services. Additionally, it simplifies operations for exchanges and wallets by requiring only an Ethereum node, and benefits from Ethereum's faster block time.
How Many Wrapped Bitcoin [WBTC] Coins Are There in Circulation?
The supply of Wrapped Bitcoin is not fixed but adjusts based on demand. WBTC tokens are minted or burned whenever users convert between BTC and WBTC. Since each WBTC is backed by one Bitcoin, the total circulation depends on the amount of Bitcoin held in reserves. As of October 2020, there were over 94,000 WBTC tokens in circulation, valued at approximately $1 billion.
How Is the Wrapped Bitcoin Network Secured?
The security of WBTC relies on the underlying Ethereum blockchain, which uses the Ethash proof-of-work algorithm, part of the Keccak hash function family. This ensures that the WBTC network is protected by the same security measures as Ethereum, providing a robust foundation for the token.
Where Can You Buy Wrapped Bitcoin [WBTC]?
WBTC can be purchased on various centralized and decentralized exchanges that act as merchants in the Wrapped Bitcoin network. Major platforms include Uniswap, Binance, OKEx, Huobi Global, and Kyber Network. These exchanges facilitate the conversion between BTC and WBTC, making it accessible to users.
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