Wrapped Bitcoin tops $1B after 900% increase in two months

Cointelegraph

Published Oct 08, 2020 01:01AM ET

Updated Oct 09, 2020 04:00AM ET

The recent DeFi bull-cycle has pushed the total value locked (TVL) of popular Bitcoin (BTC) tokenization protocol Wrapped BTC (WBTC) up by 900% to surpass $1 billion.

The milestone comes four weeks after the TVL of all Bitcoin tokenized on Ethereum (ETH) surpassed $1 billion for the first time . The current TVL of tokenized Bitcoin is nearly $1.5 billion, of which WBTC currently represents one-third.

Wrapped Bitcoin 12-month TVL chart: DeFi Pulse
RenVM lifetime TVL chart: DeFi Pulse

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