Tokenized BTC on Ethereum
Total BTC on Ethereum
$ 5,042,012,277.137updatedAt: 1/24/2021, 10:49:51 AM
There are currently 154,604.194 BTC tokenized on the ethereum blockchain. The majority of them is minted in wBTC with a total volume of 112,771.94 wBTC.
112,771.94explore on etherscan
19,906.383explore on etherscan
15,086.358explore on etherscan
2,194.321explore on etherscan
1,794.68explore on etherscan
1,566.381explore on etherscan
1,100explore on etherscan
184.116explore on etherscan
0.015explore on etherscan
Why tokenize bitcoin?Please dm me if you got suggestions to extend the list.
Bitcoin is very limited in it's usecases
With bitcoin you can not do a lot. That's old news and bitcoin holders ackowledge btc as a pure store of value. The "uselessnes" of btc besides being a store of value is by design as it keeps the system simple, while providing less of an attack surface.
Due to this design decision though btc holders miss out on all the innovation happing in the crypto space (defi/yield farming et al). Therefore tokenized btc opens the door for investments in other chains without selling the actual btc and while maintaining a relatively secure way back out.
Is BTC tokenization a good thing for ethereum/bitcoin?
As with most crypro related things. There's not a definitive answer to that. My subjective impression by reading twitter posts:
btc maximalists are not fans of tokenization as it's surrendering to the core principe of buying & holding btc/ depriveation of the right to exist for any other blockchain/token. On ethereum twitter, voices seem to be troughout postitive. The opinions diverge between seeing btc tokenization as gateway for eth flippening btc(i guess these are the maximilists?), or being happy about increased liquidity on ethereum based protocols/ growing userbase.