Kraken Releases Wrapped Bitcoin kBTC To Boost BTC Adoption
Kraken launches Wrapped Bitcoin (kBTC), an ERC-20 token entirely backed by Bitcoin, to increase adoption and utility on decentralized finance (DeFi) platforms. Kraken, a leading crypto exchange, has recently introduced Wrapped Bitcoin (kBTC), a new ERC-20 token, generating optimism in the market. This token aims to expand Bitcoin’s utility by allowing it to be used […]
21.co Teams up with Crypto.com to Enhance Bitcoin Liquidity
The partnership will improve 21.co’s wrapped tokens’ custody and liquidity options, beginning with wrapped Bitcoin (BTC). With wrapped tokens like 21BTC, users can “wrap” the original asset in a smart contract to use Bitcoin on other blockchains, like Ethereum. This enables users to engage with decentralized finance applications and profit from Bitcoin’s value. DeFi is […]
Sky to Drop Wrapped Bitcoin Due to Change in Ownership
Sky, previously known as Maker, has suggested removing Wrapped Bitcoin as collateral within its ecosystem due to the token’s close association with Justin Sun. In a post on the protocol’s governance forum on September 12, Sky’s team announced that it would officially discontinue Wrapped Bitcoin (WBTC) variations on SparkLend, its decentralized non-custodial liquidity protocol. The […]
21co Rolls out Wrapped Bitcoin on Ethereum Blockchain
21.co is adding its Wrapped Bitcoin to the Ethereum blockchain, broadening the wrapped tokens selection. The parent firm of 21Shares, a provider of cryptocurrency exchange-traded products, 21.co, has announced the release of 21BTC, or wrapped bitcoin, on the Ethereum blockchain. The company claimed in a news statement on September 3 that it has partnered with […]
Wrapped Bitcoin supply drops to negative after 11,500 token burn
After the second-largest single-day burn of 11,500 Wrapped Bitcoin (wBTC) on February 27, the supply of wrapped Bitcoin (wBTC) fell to its lowest level since May 2021. 11,500 WBTC worth a total of $260 million were burned, resulting in a negative growth rate for the now-defunct crypto lender Celsius. With a monthly growth rate of […]