Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion
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 Bitcoin Dominates by 59% Toward the end of 2018, when tokenization really started heating up in the crypto space, a number of different projects launched bitcoin-pegged token protocols. On January 30, 2018, Bitcoin.com News reported on the Wrapped Bitcoin (WBTC) project launching on Ethereum. By the end of July 2019, WBTC eclipsed the Lightning Network (LN) in terms of total value locked. Today, WBTC is the largest bitcoin ( BTC )-pegged token project with 259,090 BTC in circulation on the Ethereum network. Statistics indicate that there are seven BTC-pegged projects on Ethereum an