Wrapped Bitcoin (WBTC) stands as one of the most significant bridged assets in the decentralized finance (DeFi) ecosystem, combining the stability and value of Bitcoin with the flexibility of Ethereum-based tokens. Currently ranked #12 in the global cryptocurrency market, WBTC maintains a market capitalization of $13.84 billion**, with a live price hovering around **$107,417.00. The asset has shown resilience and steady growth, backed by a circulating supply of 128,850 WBTC, which also represents its maximum supply.
In the last 24 hours, WBTC traded between a high of $107,854.00** and a low of **$105,239.00, reflecting moderate volatility typical of mature digital assets. With a 24-hour trading volume exceeding $183.18 million, liquidity remains robust across major exchanges and DeFi platforms. Notably, WBTC has dipped slightly by 0.41% in the past hour but remains up 0.84% over the daily period, indicating short-term consolidation after recent gains.
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Understanding Wrapped Bitcoin (WBTC)
Wrapped Bitcoin is an ERC-20 token that mirrors the value of Bitcoin on the Ethereum blockchain. Each WBTC is backed 1:1 by actual BTC held in reserve through a network of custodians and governed by a decentralized consortium. This mechanism enables Bitcoin holders to participate in Ethereum’s expansive DeFi ecosystem—engaging in lending, borrowing, yield farming, and decentralized exchanges—without relinquishing exposure to Bitcoin’s price movements.
The transparency of WBTC’s reserves is maintained through regular audits and on-chain proof-of-reserves, ensuring trust and security for users across platforms like Uniswap, Aave, and Curve.
Key Metrics at a Glance
- Current Price: $107,417.00
- Market Cap: $13.84B
- 24-Hour Trading Volume: $183.18M
- Circulating Supply: 128,850 WBTC
- All-Time High: $111,685.00 (reached May 23, 2025)
- All-Time Low: $3,139.17 (recorded April 2, 2019)
These figures underscore WBTC’s role not only as a store of value but also as a critical infrastructure component enabling cross-chain interoperability.
Historical Performance & Market Trends
Over the past year, WBTC has demonstrated strong correlation with Bitcoin’s macro price trends while occasionally outperforming during DeFi bull runs. From mid-2024 lows near $57,000, WBTC began a sustained climb, breaking key resistance levels throughout late 2024 and early 2025. The momentum accelerated in November 2024, coinciding with increased institutional interest in tokenized assets and growing adoption of wrapped tokens in Layer 2 scaling solutions.
By May 2025, WBTC reached its all-time high of $111,685**, driven by broader crypto market optimism, spot Bitcoin ETF approvals, and rising demand for yield-generating Bitcoin exposure. Despite corrections—such as the drop to **$83,778 in late February 2025—WBTC has consistently rebounded, supported by strong fundamentals and deep liquidity.
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Why Investors Use Wrapped Bitcoin
There are several compelling reasons why traders and long-term investors choose WBTC over native BTC in certain scenarios:
- DeFi Integration: WBTC can be used as collateral on lending platforms like MakerDAO or Compound.
- Yield Generation: Users earn interest by supplying WBTC to liquidity pools.
- Faster Settlements: Ethereum’s network allows for quicker transfers compared to Bitcoin’s base layer.
- Smart Contract Compatibility: WBTC unlocks programmable finance use cases impossible with standard BTC.
For sophisticated investors, WBTC offers a hybrid advantage: retaining Bitcoin’s scarcity while gaining access to Ethereum’s innovation layer.
Frequently Asked Questions (FAQ)
What is Wrapped Bitcoin (WBTC)?
WBTC is a tokenized version of Bitcoin on the Ethereum blockchain. Each WBTC is fully backed by one Bitcoin held in reserve, allowing it to be used seamlessly within Ethereum-based decentralized applications.
How is WBTC different from Bitcoin?
While both track the same price, WBTC operates as an ERC-20 token, making it compatible with Ethereum wallets, smart contracts, and DeFi protocols. Native Bitcoin cannot directly interact with these systems without wrapping.
Is WBTC safe to use?
Yes, when obtained through trusted custodians and decentralized gateways. The WBTC DAO oversees minting and burning processes, and reserves are regularly audited to ensure full backing.
Can I convert WBTC back to BTC?
Absolutely. The process is reversible through authorized merchants or DeFi bridges that burn WBTC and release the equivalent amount of BTC from custody.
Does WBTC have a maximum supply?
Yes. The maximum supply of WBTC is capped at the amount of Bitcoin that has been deposited into the system, currently matching its circulating supply of 128,850 tokens.
Where can I trade or store WBTC?
WBTC is widely supported on major exchanges like OKX, Coinbase, and Binance. It can be stored in any Ethereum-compatible wallet such as MetaMask, Trust Wallet, or Ledger.
The Future of WBTC in Cross-Chain Finance
As blockchain ecosystems continue to evolve, interoperability becomes increasingly vital. WBTC is positioned at the forefront of this movement, serving as a blueprint for asset bridging across chains. Innovations in zero-knowledge proofs and trustless bridging may eventually reduce reliance on custodians, further decentralizing WBTC’s issuance model.
Additionally, the rise of Bitcoin L2 networks like Stack and Babylon could introduce new forms of wrapped or pegged BTC variants. However, WBTC’s first-mover advantage, ecosystem integration, and proven track record give it enduring relevance.
With over $13 billion in market value and deep integration across DeFi platforms, Wrapped Bitcoin remains a cornerstone asset for anyone looking to leverage Bitcoin’s value within next-generation financial applications.
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