test
bitcoin
Bitcoin (BTC) $ 66,557.83
ethereum
Ethereum (ETH) $ 3,596.39
tether
Tether (USDT) $ 0.999292
bnb
BNB (BNB) $ 608.53
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.488996
binance-usd
BUSD (BUSD) $ 0.988522
dogecoin
Dogecoin (DOGE) $ 0.136097
cardano
Cardano (ADA) $ 0.414807
solana
Solana (SOL) $ 148.36
matic-network
Polygon (MATIC) $ 0.618025
polkadot
Polkadot (DOT) $ 6.33
tron
TRON (TRX) $ 0.116176
bitcoin
Bitcoin (BTC) $ 66,557.83
ethereum
Ethereum (ETH) $ 3,596.39
tether
Tether (USDT) $ 0.999292
bnb
BNB (BNB) $ 608.53
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.488996
binance-usd
BUSD (BUSD) $ 0.988522
dogecoin
Dogecoin (DOGE) $ 0.136097
cardano
Cardano (ADA) $ 0.414807
solana
Solana (SOL) $ 148.36
matic-network
Polygon (MATIC) $ 0.618025
polkadot
Polkadot (DOT) $ 6.33
tron
TRON (TRX) $ 0.116176
More

    WBTC provide declined 15% in February

    Latest News

    Wrapped Bitcoin’s (WBTC) provide on Ethereum shrunk by 23,384 — roughly 15% — to 153,164 in February — its lowest degree since March 2021, in accordance with Dune analytics information.

    In response to the asset’s order e-book, there have been ten transactions involving WBTC eight have been burns, whereas the opposite two transactions have been a cumulative mint of 798.72 WBTC by imToken.

    Bankrupt crypto lender Celsius — a serious WBTC whale — was liable for an enormous quantity of the burns. The agency burnt 22,732 WBTC (price $533 million) in 2 days through FalconX.

    WBTC
    Supply: Dune Analytics

    The lender’s redemption is harking back to the burns recorded in December 2022 when the crypto market was nonetheless smarting from FTX’s collapse.

    On the time, there have been fears that the crypto change’s collapse would considerably impression WBTC’s reserves as a result of it was a prime service provider of the asset.

    WBTC is an Ethereum-based token that mirrors Bitcoin’s worth efficiency and is pegged 1:1 with the flagship digital asset. WBTC gained reputation through the 2022 bull run when its provide peaked at 285,000. On the time, BTC was buying and selling for round $48,000.

    At WBTC’s present worth, its market cap stands at $3.63 billion, a far cry from its peak of $13.03 billion, in accordance with StarCrypto’s information.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Hot Topics

    Related Articles