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Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion

Cryptocurrency

By Yes Mobile

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Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion

Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion

In line with information recorded on December 28, there’s roughly 434,265.43 bitcoin-pegged or wrapped bitcoin tokens value greater than $21.Three billion throughout a number of blockchains. Ten totally different bitcoin-pegged initiatives exist in the present day and the challenge Wrapped Bitcoin dominates 59.66% of all of the tokenized bitcoin in circulation.

Near a Half Million Tokenized Bitcoin Circulates on A number of Blockchains, Wrapped Bitcoin Dominates by 59%

Towards the tip of 2018, when tokenization actually began heating up in the crypto area, quite a lot of totally different initiatives launched bitcoin-pegged token protocols. On January 30, 2018, Bitcoin.com Information reported on the Wrapped Bitcoin (WBTC) challenge launching on Ethereum.

Tokenized BTC held on ETH.

By the tip of July 2019, WBTC eclipsed the Lightning Community (LN) in phrases of complete worth locked. As we speak, WBTC is the most important bitcoin (BTC)-pegged token challenge with 259,090 BTC in circulation on the Ethereum community.

The variety of tokenized BTC held on ETH by challenge.

Statistics point out that there are seven BTC-pegged initiatives on Ethereum and altogether, the seven initiatives command 323,264 BTC complete worth locked (TVL). The second-largest tokenized BTC protocol on Ethereum is HBTC with 39,884 BTC.

HBTC is adopted by RENBTC (17,054), SBTC (4,203), IMBTC (1,317), PBTC (888), and TBTC (828), respectively. Accordingly, the 323,264 BTC TVL held in Ethereum is 74.43% of the mixture BTC-pegged tokens in circulation in the present day.

BTCB Dominates by 24%, Tokenized Bitcoin in Circulation Issued by Blockstream, RSK Characterize 1.35% of As we speak’s Tokenized Bitcoin Whole

There’s one other tokenized BTC protocol that leverages the Binance Good Chain (BSC) referred to as BTCB that’s just under WBTC in phrases of TVL. On the time of writing, there’s round 105,115.44 BTCB in circulation on December 28.

The variety of BTCB in circulation on December 28, 2021.

BTCB has a totally diluted market capitalization of round $5.52 billion and $43.6 million in international commerce quantity. Essentially the most lively exchanges swapping BTCB in the present day embody Hitbtc, Pancakeswap v2, Thorchain, and Pancakeswap v1.

The variety of RBTC in circulation on December 28, 2021.

There are additionally two different tokenized BTC initiatives operated by Blockstream and RSK. As we speak, RSK has 2,522 RBTC in circulation, which can be backed by 95 exahash per second (EH/s) of BTC hashpower.

The variety of LBTC in circulation on December 28, 2021.

Blockstream’s federated sidechain, Liquid, has round 3,363.99 LBTC in circulation on the time of writing. RSK has round $124 million in tokenized bitcoin in circulation whereas Liquid’s LBTC worth is $165.Four million.

Liquid’s LBTC is barely 0.77% of the mixture tokenized BTC in circulation in the present day throughout ten protocols. RBTC is even decrease as its RBTC property symbolize solely 0.58% of the 434,265.43 mixture. On the present trajectory of all of the tokenized BTC initiatives in the present day, there’ll quickly be roughly half one million tokenized BTC leveraged on a number of various chains.

What do you consider the 434Okay tokenized bitcoin in circulation in the present day? Tell us what you consider this topic in the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information concerning the disruptive protocols rising in the present day.

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Yes Mobile
Yes Mobile is the senior mobile blog writer and technology expert. Our aim provides the best information about mobile technology and latest mobile prices in Pakistan new mobile news video reviews issues etc. And how to use software easy ways. and much more.

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