"WBTC"

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Today’s focus revolves around BitGo, the custodian behind Wrapped Bitcoin (WBTC). WBTC is one of the most widely used Bitcoin wrappers, particularly across Ethereum Virtual Machine (EVM) compatible chains.

Wrapped Bitcoin (WBTC) is the first ERC20 token fully backed 1:1 by Bitcoin. WBTC is jointly launched by blockchain projects such as BitGo, Kyber Network and Ren.

To make Bitcoin more programmable and productive in decentralized finance (DeFi), it needs to be tokenized, such as in the form of WBTC and the upcoming sBTC. WBTC is the most popular tokenized Bitcoin on Ethereum, but it faces issues of centralization and cost. In contrast, sBTC, supported by Stacks, features a decentralized design and is scheduled for release in 2024. It aims to enhance security and cost efficiency through an open network of verifiers. The launch of sBTC will offer Bitcoin holders more opportunities to leverage their assets in DeFi.

As one of the earliest stablecoins introduced in 2018, WBTC played a pioneering role in bringing Bitcoin liquidity into the DeFi and Ethereum ecosystems in 2022. This article explores the operational mechanism of WBTC and provides an overview of the current state of decentralized Bitcoin stablecoins.

This article first reviews the recent transfer of WBTC control, then compares various technical solutions in terms of trustlessness, and finally points out that solutions based on Bitcoin's native verification capabilities will be the future direction of development.

Several WBTC alternatives have emerged to bring Bitcoin liquidity to DeFi ecosystems across the cryptoverse. Discover the most prominent ones in this guide.

Wrapped Bitcoin is an ERC-20 token directly backed by Bitcoin. Its price mirrors Bitcoin's, maintaining a 1:1 price ratio.

Gate Research Daily Report: August 13— BTC attempted to break through $60,000 but then retreated, leading to a period of volatility. Ethereum's daily burn rate and Bitcoin miners' income both hit their lowest levels of the year. The Fear and Greed Index is in the fear zone, indicating that investors should be wary of market downside risks. Meanwhile, sectors such as modular blockchains and Trump-themed meme coins performed strongly, demonstrating the rapid shift in market hotspots.

Gate Research Daily Report (August 16):BTC briefly broke above $59,800 before quickly retreating to $56,000, while ETH fluctuated between $2,500 and $2,700. MakerDAO’s proposal to reduce WBTC collateral could pose liquidity risks. Pump.fun continues to dominate the meme coin market, with Beethoven X, Colend Protocol, and Symbiotic leading TVL growth in the DeFi sector. A rebound in U.S. stocks has boosted blockchain shares, and $95 million in funding was secured in the Web3 sector. Keep an eye on airdrop opportunities from Pichi Finance and Grass.

This article provides an in-depth analysis of capital flow and investment opportunities within the Bitcoin ecosystem, with a particular focus on the FBTC project. FBTC is a new type of Full-Chain BTC Synthetic Asset that allows users to participate in various sources of yield through a 1:1 pegged BTC FBTC across different blockchains. The article explores FBTC's technical design, resource advantages, and market potential, and examines how it leverages multi-party custody and cross-chain bridging technologies to enhance the capital efficiency and liquidity of Bitcoin assets. It also compares FBTC with existing solutions like wBTC and looks at FBTC's development prospects and potential收益 opportunities in the cryptocurrency market.

This article examines the current state of WLFI (World Liberty Financial), a cryptocurrency project associated with the Trump family. Since its launch in September 2023, WLFI—which claims Trump as its inspiration—has pursued a mission to democratize DeFi. Despite ongoing controversy about its ties to the Trump family, the project has raised $76.5 million. The WLFI multi-signature wallet now holds over $74.5 million in assets, mainly in cryptocurrencies like ETH, WBTC, and AAVE. The team is building partnerships with Aave and Ethena Labs as part of its focus on DeFi development.

Over the past decade, Bitcoin has flowed into centralized exchanges, publicly listed and private companies, governments, Exchange-Traded Funds (ETFs), and derivative token projects like WBTC. This article will deeply analyze the top 20 entities that currently hold the most Bitcoin and explore their positions and influence in the Bitcoin market.

Tokenized bitcoins are tokens that mirror the value of Bitcoin, allowing seamless transactions on different blockchains, notably Ethereum, opening doors to a more interconnected financial landscape.

Wrapped tokens are tokens that are pegged against other cryptocurrencies and exist on other blockchains. They increase interoperability among blockchain networks.

Bitcoin L2s will leverage their raised capital to develop robust applications and new use cases for BTC, aiming to attract significant liquidity from both native BTC holders and existing wrapped BTC markets. This report estimates that over $47bn of BTC could be bridged into Bitcoin L2s by 2030.