Blockchain
Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion
On December 28, there’s 434,265.43 bitcoin-pegged or wrapped bitcoin tokens worth more than $21.3 billion across several blockchains
$85,683.00
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tBTC (TBTC) is a tokenized version of Bitcoin (BTC) on the Ethereum blockchain, enabling Bitcoin holders to access Ethereum's decentralized finance (DeFi) services, smart contracts, and dApps. Launched by the Keep Network, tBTC operates as a smart contract, holding an equivalent value of Bitcoin in a secure custody arrangement. Users can deposit Bitcoin and receive tBTC tokens in return, which can be used within the Ethereum ecosystem. By bridging the two largest blockchain networks, tBTC enhances interoperability, expanding the utility of both Bitcoin and Ethereum for users and developers alike. This innovative solution allows users to maintain their Bitcoin holdings while participating in DeFi, lending, borrowing, and yield farming opportunities on the Ethereum network.
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On December 28, there’s 434,265.43 bitcoin-pegged or wrapped bitcoin tokens worth more than $21.3 billion across several blockchains
The number of tokenized bitcoins in existence has now climbed to 408,210 bitcoin worth over $25 billion today.
On August 7, there’s 253,510 bitcoin-pegged or wrapped tokens worth more than $11 billion in value on the Ethereum blockchain.
Statistics show there’s more than 299,000 bitcoin worth over $12 billion tied to wrapped or synthetic bitcoin projects hosted on ETH and BSC.
There's approximately 141,231 bitcoins or $3.4 billion at the time of publication locked into Ethereum-based tokens.
Members of the crypto ecosystem will soon be able to leverage WBTC via the Tron network according to the recent announcement.