SBTC – DIGIT INFO

Legendary Investor Tim Draper Leads Bitcoin Lending Protocol Zest’s $3.5 Million Seed Round

DIGIT — Fri, 17 May 2024 01:38:50 +0000

Draper Associates, the VC firm led by the legendary investor Tim Draper, has led the $3.5 million seed round of Zest Protocol, a Stacks-based Bitcoin lending market. The round, which also had the participation of Binance Labs, Flow Traders, Trust Machines, and others, seeks to allow bitcoin holders to put their capital to use using […]

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

DIGIT — Tue, 28 Dec 2021 17:00:47 +0000

According to data recorded on December 28, there’s approximately 434,265.43 bitcoin-pegged or wrapped bitcoin tokens worth more than $21.3 billion across several blockchains. Ten different bitcoin-pegged projects exist today and the project Wrapped Bitcoin dominates 59.66% of all the tokenized bitcoin in circulation. Close to a Half Million Tokenized Bitcoin Circulates on Several Blockchains, Wrapped […]

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Moving $25 Billion in BTC via Alternate Chains — There’s Now Over 400,000 Tokenized Bitcoins in Existence

DIGIT — Fri, 05 Nov 2021 15:30:45 +0000

As the end of the year approaches, the price of bitcoin has hovered above the $60K region and with 18.8 million bitcoin in circulation, bitcoin’s market valuation is over $1.16 trillion today. Meanwhile, the number of tokenized bitcoins in existence today has swelled significantly during the last three years, climbing to 408,210 bitcoin worth $25 […]

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Tokenized Bitcoin on Ethereum Crosses $11 Billion Notional, WBTC Commands 76% of Circulating Supply

DIGIT — Sat, 07 Aug 2021 22:30:11 +0000

According to data on August 7, there’s 253,510 bitcoin-pegged or wrapped tokens worth more than $11 billion in value on the Ethereum blockchain. Out of the seven different bitcoin-pegged projects, the Wrapped Bitcoin protocol has 194,023 bitcoin-pegged ERC20 tokens in circulation. Over 250K Tokenized Bitcoin In Circulation Split Between 7 Ethereum Projects, Binance Smart Chain’s […]

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There’s Close to 300,000 Bitcoin-Pegged Tokens Hosted on ETH and BSC, Value Exceeds $12 Billion

DIGIT — Wed, 19 May 2021 03:30:35 +0000

For quite some time now cryptocurrency traders have been leveraging bitcoin-based assets tethered to alternative blockchains. Mid-May statistics show there’s more than 299,000 bitcoin, worth over $12.8 billion today, tied to wrapped or synthetic bitcoin projects hosted on Ethereum or the Binance Smart Chain. Layer 2 and Sidechain Competitors Command $251 Million in Bitcoin Value […]

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Bitcoin-Pegged Token Crafted by Binance Swells, BTCB Now Commands $2.3 Billion Market Cap

DIGIT — Wed, 07 Apr 2021 01:30:06 +0000

Over the last twelve months wrapped or synthetic bitcoin projects have swelled a great deal. The digital token called wrapped bitcoin, for example, has 141,503 WBTC in circulation today, but the token called the Bitcoin BEP 2 (BTCB) has gathered some steam. Currently, there are 39,719 BTCB out in the wild today as the bitcoin-pegged […]

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Side-Chaining $3 Billion in Value: There’s More Than 141,000 Tokenized Bitcoins Issued on Ethereum

DIGIT — Mon, 21 Dec 2020 08:30:06 +0000

According to onchain statistics, there is a colossal amount of bitcoin, approximately 141,231 bitcoins or $3.3 billion at the time of publication locked into Ethereum-based tokens. There are roughly seven different wrapped or synthetic bitcoin tokens but the Wrapped Bitcoin project has the lion’s share of coins with 115,411 under custody. At the time of […]

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Bitgo Plans to Launch Wrapped Bitcoin on the Tron Blockchain

DIGIT — Sat, 26 Sep 2020 02:45:30 +0000

Soon there will be another network that allows people to tokenize BTC in order to leverage the underlying blockchain’s speed and fees. On September 24, Bitgo, the custodian of the Wrapped Bitcoin project (WBTC), the most popular tokenized BTC platform to-date, announced a partnership with Tron. Members of the crypto ecosystem will soon be able […]

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SBTC Plummets by 99% as Devs Announce Dissolution of Token

DIGIT — Wed, 23 Sep 2020 08:30:05 +0000

The price of SBTC plunged by nearly 98% in just over an hour on September 21 as devs announced the dissolution of the token. The dissolution announcement came more than a month after the token reached an all-time high of $5.07. At the time of writing, the token was quoted at $0.007 down from $0.64. […]

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Tokenized BTC Crosses $1B Notional: Ethereum Cements Role as Bitcoin’s Main Sidechain

DIGIT — Wed, 23 Sep 2020 05:00:32 +0000

Years ago when the Bitcoin network started suffering from higher fees and congestion, a number of bitcoiners advocated the use of sidechains in order to relieve the main chain’s duties. However, they didn’t realize that the Ethereum network would solidify its role as Bitcoin’s main sidechain during the last year. Five years ago, bitcoiners relentlessly […]

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