Monthly tokenized bitcoin supply growth since January 2020
Ethereum is still the most popular off-chain destination for bitcoins as its supply of tokenized bitcoin (BTC) grew more than 70% in July.More than 20,000 BTC — worth roughly $225 million — are now tokenized and used in Ethereum-based protocols.Wrapped Bitcoin (WBTC) represents over 76% of the total tokenized bitcoin supply with over 15,500 BTC tokenized.The total supply grew by roughly $96 million in July, following June’s record growth.Tokenized bitcoins allow traders and investors to denominate transactions in bitcoin while using applications built on other blockchains.“We experienced a dramatic WBTC growth in July, led by our retail users,” said Matthieu Jobbé-Duval, head of financial products at CoinList, a token launch and exchange platform that minted 7,079 WBTC in July.renBTC, the second largest supply of tokenized bitcoin, holds approximately 2,068 BTC.Tokenizing bitcoins on Ethereum is “the biggest opportunity for decentralized finance’s growth today,” said Andy Bromberg, president of CoinList in an email to CoinDesk.
Monthly tokenized bitcoin supply growth since January 2020 Source: Dune Analytics, OnChainFX, CoinDesk Research
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.Share this: 3 Reasons Bitcoin’s Price Suddenly Surged Back to $5K markets The crypto market sprang back to life with bitcoin’s surge to nearly 5-month highs yesterday.But why? To those who have been paying attention to the charts, it shouldn’t come as a surprise.
The leading cryptocurrency by market value jumped nearly $1,000 to $5,080 in a 60-minute window early on Tuesday, confirming a transition… US Treasury Secretary Mnunchin Says G7 in Agreement on Libra, Cryptocurrencies news Treasury Secretary Steve Mnuchin said his executive agency was in line with other financial ministries of the Group of Seven (G7) regarding Facebook’s leap into cryptocurrencies.“There was a clear agreement from all G7 finance ministers and central bank governors that Libra in particular raises some very significant concerns, and cryptocurrencies more broadly,” adding,… Most of MakerDAO’s Asset Value Is in Only a Few Addresses Jan 29, 2020 at 17:01 UTCUpdated Jan 29, 2020 at 17:12 UTCDeFi’s concentrated assets.
Credit: ShutterstockMost of MakerDAO’s Asset Value Is in Only a Few AddressesThe decentralized finance (DeFi) market saw a massive upswing in 2019 and its growth is expected to continue in 2020.Yet, only a handful of accounts are responsible for much… Nasdaq Lists New Decentralized Finance Index Including MakerDao, 0x, Augur news Nasdaq has added a new index that aims to offer the markets information on blockchain projects working in the decentralized finance (DeFi) space.
Called Defix, the index was launched by the London-based Exante brokerage – an early mover in the crypto industry that launched a bitcoin fund in 2012.Offered as a means for investors… Institutional Investment in Crypto: Top 10 Takeaways of 2019 Dec 22, 2019 at 13:00 UTCThis post is part of CoinDesk’s 2019 Year in Review, a collection of 100+ op-eds, interviews and takes on the state of blockchain and the world.
Scott Army is the founder and CEO of digital asset manager Vision Hill Group.The following is a summary of the report: “An Institutional… Bitcoin Price Sees First ‘Golden Crossover’ Since 2015 markets View Bitcoin’s daily chart is reporting a “golden crossover” – a bull cross of the 50- and 200-day moving averages – for the first time since October 2015.
The crossover represents a long-term bearish-to-bullish trend change.A convincing close today above $5,466 (April 10 high) would establish another bullish higher high and boost the… Venezuela Tries to Avoid US Sanctions By Trading In Rubles and Crypto news Venezuela and Russia are in talks to use the ruble in mutual trade settlements, thereby abandoning the commonly-used US dollar in country-to-country transactions.Further, the two countries are considering using El Petro, Venezuela’s oil-pegged cryptocurrency, as another medium of exchange.Venezuela‘s UN representative, Jorge Valero, told Russian house organ Russia Today about the upcoming… Crypto M&A and Fundraising Dropped Sharply in 2019: PwC Report Apr 6, 2020 at 01:00 UTCUpdated Apr 6, 2020 at 01:03 UTCPwC Global Crypto Lead Henri Arslanian image via CoinDesk archivesCrypto companies kept buying each other last year even as both M&A and funding deal flow in the industry took a dive, according to a report released Monday by PwC.On the M&A side, crypto-native acquirers… Leave a Reply You must be logged in to post a comment.Search.
