According to data as of December 28, there are approximately 434,265.43 bitcoin-tied or packaged bitcoin tokens valued at more than $ 21.3 billion in multiple blockchains. Today there are ten different Bitcoin-linked projects and the Wrapped Bitcoin project dominates 59.66% of all tokenized Bitcoins in circulation.
Almost half a million Tokenized Bitcoin circulates on several blockchains, Wrapped Bitcoin dominates 59%
Towards the end of 2018, when tokenization was really heating up in the crypto space, a number of different projects introduced Bitcoin-linked token protocols. January 30, 2018, Bitcoin.com News reported on the Wrapped Bitcoin (WBTC) project starting on Ethereum.
By the end of July 2019, WBTC eclipsed the Lightning Network (LN) in terms of the total blocked value. Today WBTC is the largest Bitcoin (BTC) -linked token project with 259,090 BTC floating around the Ethereum network.
Statistics show that there are seven BTC-linked projects on Ethereum and the seven projects total 323,264. command BTC Total locked (TVL). The second largest tokenized BTC Protocol on Ethereum is HBTC with 39,884 BTC.
HBTC is followed by RENBTC (17.054), SBTC (4.203), IMBTC (1.317), PBTC (888) and TBTC (828). Accordingly, the 323.264 BTC The TVL held in Ethereum accounts for 74.43% of the total BTC-linked tokens in circulation today.
BTCB dominates with 24%, Tokenized Bitcoin in circulation, issued by Blockstream, RSK represent 1.35% of today’s Tokenized Bitcoin Total
There is another tokenized BTC Protocol that Binance Smart uses Chain (BSC) called BTCB, which is just below WBTC in terms of TVL. At the time of writing, there are around 105,115.44 BTCB in circulation on December 28th.
BTCB has a fully diluted market cap of around $ 5.52 billion and global trading volume of $ 43.6 million. Some of the most active exchanges trading BTCB today include Hitbtc, Pancakeswap v2, Thorchain, and Pancakeswap v1.
There are also two other tokenized ones BTC Blockstream and RSK projects. Today RSK has 2,522 RBTC in circulation, which is also achieved by 95 exahash per second (EH / s) of. is supported BTC Hash power.
Blockstream’s federated sidechain, Liquid, has around 3,363.99 LBTC floating around at the time of writing. RSK has around $ 124 million in tokenized Bitcoin in circulation, while Liquid’s LBTC value is $ 165.4 million.
Liquid’s LBTC is only 0.77% of the total tokenized BTC in circulation today in ten minutes. RBTC is even lower as its RBTC assets are only 0.58% of the total of 434,265.43. On the current trajectory of all tokenized BTC Projects today, there will soon be around half a million tokens BTC leveraged on several alternative chains.
What do you think of the 434K tokenized bitcoins that are in circulation today? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, explorer.rsk.co, Dune Analytics, Liquid.net, Coinmarketcap.com,
Source: Crypto News Austria