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Wrapped xBTC Price (WXBTC)
$0.146501
0.00%
Rank #7524
Wrapped xBTC Price Chart (WXBTC/USD)
Last updated 22 Jun 2022, 09:11AM UTC. Currency in USD.
Markets
# | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
---|---|---|---|---|---|---|
1 |
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WXBTC / BTC | $0.10152200 | 0.29% | $187 | |
2 |
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WXBTC / USDT | $0.19995800 | 2.88% | $500 |
WXBTC Price Statistics
$0
24H Range
$0
- Wrapped xBTC Price Now $0
- 24h Low / 24h High $0 / $0
- Trading Volume $74
- Market Cap Rank #0
- Market Cap $0
- Volume / Market Cap 0.0000
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All-Time High
$4 -96.08%
Jun 16, 2021 -
All-Time Low
$0 70.11%
Mar 19, 2022
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Wrapped xBTC: Bridging Traditional and Digital Finance
The Future of Cross-Chain Assets
Wrapped xBTC, also known as WBTC, is an innovative cryptocurrency that aims to bridge the gap between traditional finance and the digital asset world. As the cryptocurrency market continues to grow rapidly, there is a need for solutions that enable the seamless transfer of assets from different blockchains. Wrapped xBTC is one such solution, providing users with a way to use Bitcoin on the Ethereum blockchain.What is Wrapped xBTC?
Wrapped xBTC is an ERC-20 token backed by Bitcoin at a 1:1 ratio. It is essentially a representation of Bitcoin on the Ethereum blockchain, allowing users to trade, lend, and use Bitcoin in various decentralized applications (dApps) and smart contracts within the Ethereum ecosystem. The aim of Wrapped xBTC is to combine the security and stability of Bitcoin with the flexibility and programmability of Ethereum.How does Wrapped xBTC work?
The process of wrapping Bitcoin into Wrapped xBTC involves depositing Bitcoin with a custodian, who then mints an equivalent amount of Wrapped xBTC on the Ethereum blockchain. This ensures that there is always a 1:1 ratio between the two assets, with each Wrapped xBTC token representing the same value of Bitcoin. Users can then trade their Bitcoin for Wrapped xBTC and vice versa.Benefits and Use Cases
Wrapped xBTC offers several benefits to both Bitcoin and Ethereum users. Firstly, it enables Bitcoin holders to access the diverse range of decentralized finance (DeFi) applications available on the Ethereum blockchain. This opens up opportunities for lending, borrowing, and yield farming by using Bitcoin as collateral.Additionally, Wrapped xBTC provides a solution for cross-chain interoperability. By wrapping Bitcoin as an ERC-20 token, it becomes compatible with any Ethereum-based dApp or smart contract, expanding its potential use cases for decentralized exchanges, decentralized lending platforms, and more.