Wed. Dec 1st, 2021

According to data on August 7, theres 253,510 bitcoin-pegged or wrapped tokens worth more than $11 billion in value on the Ethereum blockchain. Out of the 7 different bitcoin-pegged jobs, the Wrapped Bitcoin protocol has 194,023 bitcoin-pegged ERC20 tokens in blood circulation.
Over 250K Tokenized Bitcoin In Circulation Split Between 7 Ethereum Projects, Binance Smart Chains Bitcoin-Peg Reaches 73K Issued
Ethereum (ETH) leapt over the $3K zone in worth on Saturday, as the protocol successfully updated on August 5. ETHs market evaluation has actually acquired a substantial amount of dominance in regards to the $1.78 trillion crypto-economy capturing 20% of that value on Saturday.
The crypto asset has also acquired more than 700% versus the U.S. dollar throughout the last 12 months. Much of this has actually been attributed to decentralized financing (defi), non-fungible tokens (NFTs), and a myriad of decentralized exchange (dex) platforms over the last year.
The number of tokenized bitcoin on Ethereum on August 7, 2021.
In addition, the Ethereum network houses the most bitcoin (BTC)- pegged tokens out of all the blockchain tasks today. However, other blockchain tasks are catching up fast as the BTC-pegged token (BTCB) released on the Binance Smart Chain is around 73,111 BTCB (otherwise called BEP2) in flow today.
BTCB or BEP2 rate on August 7, 2021, at 3:00 p.m. (EDT).
The Wrapped Bitcoin (WBTC) project, BTCB does have more BTC-pegged tokens than the latter 6 BTC-pegged Ethereum-based jobs integrated. Covered Bitcoin (WBTC) is a task backed by Bitgo and on Saturday, theres 194,023 WBTC in flow worth $8.4 billion, according to Dune Analytics stats. Thats more than 76.3% of the whole BTC-pegged token supply housed on Ethereum

HBTC Nears 54% of BTCB Issued– Liquid, rsk and lightning Represent 2.8% of the Tokenized Bitcoin on Ethereum.
Other BTC-pegged ERC20 token projects consist of HBTC (39,906), RENBTC (13,559), SBTC (3,039), PBTC (1,766), IMBTC (1,146), and TBTC (872 ). For contrast, HBTC is around 54% of the overall quantity of BTCB tokens provided on the BSC network.
While tokenized bitcoin on Ethereum crosses $11 billion notional during the very first week of August, dex platforms are allowing users to collect yields from their BTC by means of liquidity pools. A number of dex platforms allow users to provide liquidity and gain yield making use of tokens like WBTC, SBTC, HBTC, BTCB, and RENBTC tokens. Some of the leading dex applications allowing tokenized BTC energy like trading and liquidity pools include Uniswap, Sushiswap, Paraswap, and 0x API.
Tokenized bitcoin on Blockstreams Liquid sidechain is around 2,939.47 LBTC for the month of August. Data from the RSK sidechain shows around 2,020 RBTC at the time of writing. Meanwhile, theres also 2,300 BTC in value moving on the Lightning Network on August 7.
What do you consider the amount of bitcoin housed on the Ethereum chain today? Let us understand what you think of this subject in the remarks section below.

Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons, Dune Analytics, Coinmarketcap.com,

/ r/btc, 194023 WBTC, Binance Smart Chain, Bitcoin, Bitcoin (BTC), Bitcoin Pegged Tokens, BSC, DeFi, DEX, Ethereum, Ethereum (ETH), HBTC, imbtc, LBTC, Liquid, Liquidity Pools, pBTC, Renbtc, RSK, SBTC, tbtc, Tokenized Bitcoin, Tokenized BTC, covered bitcoin, Yield

Disclaimer: This post is for informational functions just. It is not a direct offer or solicitation of an offer to offer or purchase, or a recommendation or recommendation of any companies, services, or products. Bitcoin.com does not supply financial investment, tax, legal, or accounting suggestions. Neither the company nor the author is accountable, straight or indirectly, for any damage or loss declared or caused to be triggered by or in connection with using or dependence on any material, items or services discussed in this short article.

The Wrapped Bitcoin (WBTC) job, BTCB does have more BTC-pegged tokens than the latter six BTC-pegged Ethereum-based tasks combined. Covered Bitcoin (WBTC) is a task backed by Bitgo and on Saturday, theres 194,023 WBTC in circulation worth $8.4 billion, according to Dune Analytics data. While tokenized bitcoin on Ethereum crosses $11 billion notional during the first week of August, dex platforms are enabling users to gather yields from their BTC by means of liquidity swimming pools. A number of dex platforms permit users to supply liquidity and gain yield using tokens like WBTC, SBTC, HBTC, BTCB, and RENBTC tokens. Tokenized bitcoin on Blockstreams Liquid sidechain is around 2,939.47 LBTC for the month of August.

By

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Wizadclick | WAC MAG 2021