Three months ago, there were 441,546 wrapped or artificial bitcoins on the Ethereum blockchain price and Binance snart $17.45 billion using April 24, 2022 exchange rates. Since then, that range has covered 53,582 artificial bitcoins and these days the amount of wrapped or guaranteed bitcoins is around 387,964 worth $8.81 billion.
The number of wrapped or synthetic bitcoins held by Ethereum is decreasing
Over the past two years, the use of wrapped, collateralized, or man-made bitcoins has increased a lot and earlier this year there were nearly [*fr1] 1,000,000 artificial bitcoins remained Binance smart Chain (BSC) and Ethereum (ETH) blockchains.
A large majority of these token types come from the Wrapped Bitcoin (WBTC) project, as the ERC20 market capitalization is the eighteenth largest among 13,373 crypto assets. At press time, WBTC includes a current supply of around 236,882 wrapped bitcoins with a valuation of around $5.38 billion today.
However, the circulating supply of WBTC has had a small affair in the last 3 months, as there were 280,505 WBTC alive on April 23, 2022, according to statistics from Sand Dune Analytics. At the time, BTC was trading for $39,000 per unit and WBTC’s market cap was also valued at $10.93 billion.
WBTC is issued on Ethereum and back then the BSC BEP2 token otherwise known as BTCB had a current supply of around 105,172, and these days the availability hasn’t changed much as there are 105,175 BTCB in traffic. 3 months ago BTCB stock was priced at $4.10 billion and these days it is at $2.39 billion.
While 53,582 synthetic bitcoins are cleared from a mix of Ethereum-based tokens and most of the reduction comes from WBTC. However, Sand Dune Analytics metrics indicate that HBTC and RENBTC have seen declines over the past ninety days.
HBTC reached a high of 39,870 on May 15, 2022 and today the amount of HBTC in circulation is 38,970. Currently, the mix range of synthetic or wrapped bitcoins on each BSC and ETH is approximately 1.847% of supply cap of 21 million BTC. The amount of man-made or shrouded bitcoin on Ethereum alone equals 1.344%, suggesting that this live BTCB supply is 0.503% of the capped BTC supply.
The post office Statistics show that more than 53,000 wrapped bitcoins have been taken out of circulation in the last 3 months first appeared on BTC Sons.