Bitcoins Are Being Tokenized Faster Than They’re Mined as DeFi Craze Continues
The decentralized finance craze is causing demand for tokenized bitcoin to surge.
The supply of BitGo’s wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 WBTC minted within one week. Here’s why.
More than 92,000 bitcoins have been tokenized on Ethereum.
Monthly value of minted WBTC grew 160% from August.
The firm claimed 14,654 WBTC in August following approval of its Compound collateral proposal.
Prices for ren, the token for the RenVM DeFi network, experienced a great week, as the demand for bitcoin rises on DeFi.