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Bitcoin Supply on Ethereum Tops $1B
More than 92,000 bitcoins have been tokenized on Ethereum.
By Zack Voell
Updated Mar 6, 2023, 2:50 p.m. Published Sep 17, 2020, 6:06 p.m.
Over $1 billion worth of bitcoin has been tokenized on Ethereum as the total supply of tokenized passed 92,600 on Thursday, or 0.42% of the total BTC supply. In January, less than 1,200 BTC were tokenized worth less than $7 million.
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- Wrapped bitcoin (WBTC), the largest tokenized bitcoin project, has minted over 60,500 tokenized BTC since its launch in early 2019, representing over 65% of the total tokenized BTC supply.
- “Huge buying demand” over the counter is one reason for the rapid increase in supply of tokenized BTC, according to Sam Bankman-Fried, CEO of FTX and co-founder of Alameda Research, the exchange’s sister company.
- OTC demand for WBTC started at FTX with the advent of decentralized finance’s yield farming craze, said Bankman-Fried. Demand continued to grow as the total value held in DeFi protocols increased.
- Nearly 70% of all WBTC minted in August were claimed by Alameda Research, as CoinDesk previously reported.
- RenBTC, the second largest tokenized bitcoin project, has issued 22,000 tokenized bitcoins since May, according to data queried on Dune Analytics.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
알아야 할 것:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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