Wrapped Bitcoin is now Ethereum's 6th Largest Token
cointelegraph.com
Wrapped Bitcoin (WBTC) reached all-time highs today in terms of market capitalization and number of tokens. This makes WBTC Ethereum’s sixth-largest token by market cap, after Crypto.com Coin (CRO), USD Coin (USDC), Chainlink (LINK), BNB (BNB), and at number one, Tether USD (USDT).
An ERC-20 token backed 1:1 by BTC reserves, Wrapped Bitcoin accounts for 80% percent of the $2 billion worth of BTC on the Ethereum network. Although recent gains made by BTC also contribute to the rising market cap of WBTC, the primary factor propelling its sudden growth is increasing demand.
Read in Full: cointelegraph.com
