Wrapped Bitcoin (WBTC) Beats Aave & Curve to Become the Third Largest DeFi Project

Wrapped Bitcoin (WBTC) Beats Aave & Curve to Become the Third Largest DeFi Project
фото показано с : bitcoinexchangeguide.com

2020-10-15 19:35

Bitcoin on Ethereum continues to grow at warp speed, reaching above $1.6 billion, on pace with 145k BTC.

Several projects like renBTC, imBTC, HBTC, TBTC, pBTC, and sBTC are putting BTC on the second largest network. Wrapped Bitcoin (WBTC) dominates this growth by accounting for 73.6% of the BTC on Ethereum.

105,132 WBTC worth $1.2 billion has been minted so far, which has increased a whopping 9,380% since the beginning of 2020.

With this, WBTC has jumped past the likes of Yearn.Finance, Synthetix, Compound, Curve Finance, and Aave to become the third-largest DeFi project.

Uniswap, with a record of $2.73 billion in total value locked (TVL) and dominance of 24.12%, and Maker with nearly $2 billion of crypto funds locked are the only ones bigger than Wrapped Bitcoin.

Source: DeFiPulse

WBTC is one of the fastest-growing DeFi projects, much like the overall sector, which is hitting new highs of $11.4 billion in TVL.

Interestingly, yesterday, the largest WBTC was minted in a single day by CoinList. This largest mint of 5,000 WBTC was made in two separate transactions — the first one involved 1,299.48 WBTC while the second transaction involved 3,697.5 WBTC.

This record breaks the last one made by FTX CEO Sam Bakman-Fried’s crypto trading firm Almeda Research that one-upped the previous record with 2,316.5 WBTC.

WBTC is an ERC-20 token backed by bitcoin in a 1:1 ratio, where the BTC is held in the custody of BitGo.

With this, DeFi users can participate in various applications without actually using their Bitcoin. It further brings Bitcoin's vast liquidity, with a $210 billion market, to the $42 billion market cap Ethereum network.

Demand for WBTC continues to soar, as seen in its growth as this allows Bitcoin holders to take part in exciting DeFi apps like yield farming and earn income on their BTC without giving it up.

The post Wrapped Bitcoin (WBTC) Beats Aave & Curve to Become the Third Largest DeFi Project first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69440.12 (+0.61%)
Объем 24H $48.1b
Изменеия 24h: 3.20 %, 7d: -3.97 %
Cегодня L: $69440.12 - H: $69473.16
Капитализация $1373.399b Rank 1
Цена в час новости $ 11471.97 (505.3%)

largest btc bitcoin renbtc imbtc like hbtc

largest btc → Результатов: 126


Фото:

Bitcoin SV (BSV) gets listed on Korean community exchange

South Korea’s largest community crypto exchange, Bitribe, recently decided to list a new coin — Bitcoin SV (BSV). The coin is currently live on the platform and available for trade. Bitcoin SV sees launch on Korea’s largest community exchange According to its recent announcement, Bitribe has added support for Bitcoin SV against two other cryptocurrencies — Bitcoin (BTC) itself, and Tether (USDT).

2020-9-24 13:45


Фото:

Cryptocurrency News Roundup for Sept 3, 2020

The Bitcoin price dropped more than $400 early on Thursday, 3 Sep, triggering alarm among the bulls who were already struggling against a two-day sell-off. The steep drop was somewhat expected, though, considering that there was an inflow of more than 90,000 BTC from whales to some of the largest crypto exchanges just a day […] The post Cryptocurrency News Roundup for Sept 3, 2020 appeared first on BeInCrypto.

2020-9-4 00:00


Фото:

Digital Currency Group Барри Силберта вошла в индустрию майнинга биткоина

Американская майнинговая компания Foundry стала 100% "дочкой" Digital Currency Group (DCG), основателем и CEO которой является Барри Силберт. Unveiling our 4th subsidiary, Foundry, a bitcoin mining and crypto staking business We have committed to invest an additional $100 mm through 2021 to help build out the North American mining industry Oh, and we believe we may already be the largest BTC miner in North America.

2020-8-28 18:39


Фото:

Bitcoin (BTC) stock price corrects after a failed breakout

Bitcoin (BTC) price has been dragged lower to test weekly support near $11,000 after the buyers failed to close above the $12,000 handle last week.   Fundamental analysis: A beginning of another bull market? The largest Bitcoin exchanges and crypto wallet apps such as Coinbase, Blockchain Wallet, Binance, BRD and others registered record-high combined downloads last month, largely thanks to the fact that many institutional investors turned to BTC in the midst of unparalleled coronavirus stimulus spending.

2020-8-28 13:42


Billion Dollar Publicly-traded MicroStrategy Buys 21,454 Bitcoin as a Reserve Asset

MicroStrategy is now taking a deep dive into the world of bitcoin. The $1.2 billion Nasdaq listed software company has officially announced its position in the largest digital asset. A fortnight after announcing to invest in bitcoin as an inflation hedge, the company has purchased 21,454 BTC at an aggregate price of $250 million, inclusive […]

2020-8-11 18:21


Bitcoin’s Highest Weekly Close Since Jan 2018 Coincides with Falling Inflow to Exchanges

Yet another weekend that saw Bitcoin jumping the $12,000 level. After breaking the key level of $10,000, now the largest cryptocurrency is working on another important level. Over the weekend, BTC went down to $11,500 only to start gaining momentum towards the end of the day to start yet another bullish week. And #Bitcoin has […]

2020-8-10 15:59


Фото:

Grayscale Set to Launch Crypto Ad Campaign on CNBC, MSNBC, FOX, and FOX Business

Grayscale Investment, the world’s largest crypto asset fund manager is bringing bitcoin (BTC), ether (ETH) to people’s television. A Well-Timed Campaign? In a recent tweet, Barry Silbert, the founder and CEO of Digital Currency Group, the parent firm of Grayscale Investment, Genesis Trading, and crypto publication Coindesk stated that Grayscale is set to kick-start a nationalRead MoreRead More.

2020-8-9 15:07


Whale Alert подсчитал предположительно принадлежащие Сатоши Накамото биткоины

Аналитический сервис Whale Alert определил, что количество неизрасходованных биткоинов, приписываемых создателю криптовалюты, равно 1 122 693 BTC. По текущему курсу это составляет более $10 млрд. 👤 👤 👤 We took a closer look at the largest and most elusive whale of them all.

2020-7-22 17:04


Фото:

Why Tomorrow’s $1B Bitcoin Options Expiry May Not Trigger Any Volatility

Tomorrow, $1 billion worth of monthly and quarterly Bitcoin options will be expiring This will be the largest options expiry that BTC has ever seen Some analysts believe that the event will spark some massive volatility That being said, the sharp downwards movement seen yesterday evening may have actually been the movement that was widely expected by traders One analyst believes that this signals that the benchmark cryptocurrency is poised to see even further sideways […]

2020-6-25 21:00