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Supply Of Tokenized Bitcoin On Ethereum Surpasses $1 Billion Worth

Emily Mason

Summary: The total supply of tokenized Bitcoin on Ethereum surpassed $1 billion worth earlier on Thursday, September 17, as reported by Coindesk. The total supply of tokenized bitcoin on Ethereum passed 92,600 on Thursday, constituting 0.42% of the total BTC supply. In January the figure stood at less that $7 million worth. Wrapped Bitcoin represents over ...

The total supply of tokenized Bitcoin on Ethereum surpassed $1 billion worth earlier on Thursday, September 17, as reported by Coindesk.

The total supply of tokenized bitcoin on Ethereum passed 92,600 on Thursday, constituting 0.42% of the total BTC supply. In January the figure stood at less that $7 million worth.

Wrapped Bitcoin represents over 65% of the total tokenized BTC supply. Sam Bankman-Fried, CEO of FTX and co-founder of Alameda Research, said over the counter demand is one factor driving the increased supply especially as yield farming has gained popularity.

By Emily Mason

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