Wrapped Bitcoin has a price of $ 20,384.00 with a marketcap of $ 5.43 B. It ranks number 15 of all cryptocurrencies.
If you thought one Bitcoin would be more than enough, think again. Wrapped Bitcoin is a relative new token on the Ethereum chain. This allows Wrapped Bitcoin to be fully integrated into the ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance applications.
WBTC is backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians, ensuring that its price is pegged to Bitcoin at all times and allows users to transfer liquidity between the BTC and the ETH networks in a decentralized and autonomous manner. It was announced on October 26 2018. Wrapped Bitcoin launched on January 31, 2019.