Neary 100M Dollars Swapped from Bitcoin to Ethereum, through Retail Traders

Neary 100M Dollars Swapped from Bitcoin to Ethereum, through Retail Traders

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Ethereum remains the foremost popular off-chain destination for bitcoins as its supply of tokenized bitcoin (BTC) grew over 70% in July.

  • More than 20,000 BTC — worth roughly $225 million — are now tokenized and employed in Ethereum-based protocols.
  • Wrapped Bitcoin (WBTC) represents over 76% of the full tokenized bitcoin supply with over 15,500 BTC tokenized.
  • The total supply grew by roughly $96 million in July, following June’s record growth.
  • Tokenized bitcoins allow traders and investors to denominate transactions in bitcoin while using applications built on other blockchains.
  • “We experienced a dramatic WBTC growth in July, led by our retail users,” said Matthieu Jobbé-Duval, head of economic products at CoinList, a token launch and exchange platform that minted 7,079 WBTC in July.
  • renBTC, the second largest supply of tokenized bitcoin, holds approximately 2,068 BTC.

This Post Has One Comment

  1. Suresh

    Hi, its Good Article .

    Thanks
    suresh

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