Nearly $100 Million in Bitcoin Moved to Ethereum in July, Led by Retail Traders
(Source: coindesk.com)

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(Original link: coindesk.com)

Please consider using a different web browser for better experience. Please enable JavaScript in your browser for a better site experience. Nearly $100M in Bitcoin Moved to Ethereum in July, Led by Retail Traders Aug 1, 2020 at 14:16 UTC Updated Aug 2, 2020 at 05:34 UTC Monthly tokenized bitcoin supply growth since January 2020 Zack Voell Nearly $100M in Bitcoin Moved to Ethereum in July, Led by Retail Traders Ethereum is still the most popular off-chain destination for bitcoins as its supply of tokenized bitcoin (BTC) grew more than 70% in July. More than 20,000 BTC — worth roughly $225 million — are now tokenized and used in Ethereum-based protocols. Wrapped Bitcoin (WBTC) represents over 76% of the total tokenized bitcoin supply with over 15,500 BTC tokenized. The total supply grew by roughly $96 million in July, following June’s record growth . Tokenized bitcoins allow traders and investors to denominate transactions in bitcoin while using applications built on other blockchains. "We experienced a dramatic WBTC growth in July, led by our retail users," said Matthieu Jobbé-Duval, head of financial products at CoinList, a token launch and exchange platform that minted 7,079 WBTC in July. renBTC, the second largest supply of tokenized bitcoin, holds approximately 2,068 BTC. Tokenizing bitcoins on Ethereum is "the biggest opportunity for decentralized finance's growth today," said Andy Bromberg, president of CoinList in an email to CoinDesk. Monthly tokenized bitcoin supply growth since January 2020 Source: Dune Analytics, OnChainFX, CoinDesk Research Read more about... CoinList wBTC renBTC Tokenized Bitcoin Disclosure
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