Alameda Research Claimed Nearly 70% of Wrapped Bitcoin Minted in August
The firm claimed 14,654 WBTC in August following approval of its Compound collateral proposal.
BitGo “unwrapped” over 11,600 WBTC last month.
Monthly value of minted WBTC grew 160% from August.
The trend shows how some savvy crypto traders have pivoted to salvage or maintain returns even as bitcoin's price tumbled.
The supply of BitGo’s wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 WBTC minted within one week. Here’s why.
More than 92,000 bitcoins have been tokenized on Ethereum.