$12 239
1H
0.38%$46.33
24H
3.91%$460.6
7D
7.52%$856.0
Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) that runs on the Ethereum (ETH) blockchain.
WBTC is compliant with ERC-20 — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance (DeFi) applications.
WBTC is also 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.
Coinbase Custody, a subsidiary of the Coinbase cryptocurrency exchange has announced a set of coins and digital assets it is set to provide custody support for provided regulatory approved in defined jurisdictions permit.
Although the Bitcoin blockchain lacks the infrastructural model to enable interoperability and power a DeFi landscape like Ethereum, the asset is increasingly being used to provide liquidity in the DeFi market.
Bloq announced an easy-to-use platform dubbed Vesper that would automate DeFi investments. Vesper is simpler than yield farming as it saves time as well as money spent on transaction fees since it entails a handful of steps instead of a dozen.
New-York-based cryptocurrency exchange Gemini has finally decided to include support for DeFi tokens looking at the latest frenzy around DeFi coins in the market.
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