Wrapped Bitcoin (WBTC) Trading Down 5% Over Last Week

Wrapped Bitcoin (WBTC) traded down 0.1% against the dollar during the 1 day period ending at 11:00 AM ET on August 6th. Wrapped Bitcoin has a total market capitalization of $5.49 billion and $128.52 million worth of Wrapped Bitcoin was traded on exchanges in the last day. One Wrapped Bitcoin coin can currently be bought for $23,194.13 or 0.99868076 BTC on cryptocurrency exchanges. Over the last week, Wrapped Bitcoin has traded 5% lower against the dollar.

Here’s how similar cryptocurrencies have performed over the last day:

• Unitech (UTC) traded 5.3% lower against the dollar and now trades at $0.95 or 0.00004552 BTC.
• Cosmos (ATOM) traded down 0.4% against the dollar and now trades at $10.83 or 0.00046652 BTC.
• dForce USD (USX) traded 0.3% lower against the dollar and now trades at $0.99 or 0.00004329 BTC.
• Function X (FX) traded 0.3% lower against the dollar and now trades at $0.30 or 0.00001283 BTC.
• Creditcoin (CTC) traded up 0.1% against the dollar and now trades at $0.41 or 0.00001751 BTC.
• Venus (XVS) traded 1.7% higher against the dollar and now trades at $6.70 or 0.00028854 BTC.
• YES WORLD (YES) traded down 12.4% against the dollar and now trades at $0.0115 or 0.00000049 BTC.
• mStable USD (MUSD) traded 0.2% higher against the dollar and now trades at $1.00 or 0.00004312 BTC.
• Phantasma (SOUL) traded 1.1% lower against the dollar and now trades at $0.34 or 0.00001465 BTC.
• Tranchess (CHESS) traded up 0.4% against the dollar and now trades at $0.40 or 0.00001706 BTC.

Wrapped Bitcoin Coin Profile

Wrapped Bitcoin is a PoW/PoS coin that uses the Scrypt hashing algorithm. It was first traded on November 27th, 2018. Wrapped Bitcoin’s total supply is 236,810 coins. Wrapped Bitcoin’s official Twitter account is @WrappedBTC. The official website for Wrapped Bitcoin is wbtc.network.

According to CryptoCompare, “Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. WBTC standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers.  To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC / AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with Bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user. “

Wrapped Bitcoin Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as Wrapped Bitcoin directly using US dollars. Investors seeking to trade Wrapped Bitcoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Wrapped Bitcoin using one of the exchanges listed above.