Users sent 1% of all Bitcoin to the WBTC protocol

The total amount of Bitcoin locked in the DeFi protocol Wrapped Bitcoin (WBTC) has reached 187,610. That’s 1% of the total circulating supply of the first cryptocurrency.

Total circulation of WBTC amounts to 187,610, accounting for about 1% of the total Bitcoin circulation, which means that 1% of the current Bitcoin circulation has entered Ethereum through WBTC. pic.twitter.com/Yg74JGDQNJ

— Wu Blockchain (@WuBlockchain) June 8, 2021

WBTC, with a TVL of $5.96 billion, occupies fifth place in the Ethereum project ranking on the DeFi Llama platform.

As of writing, the total market supply of “Bitcoin on Ethereum” stands at 236,885, according to Dune Analytics. This is over 3% of Ethereum’s market value.

Positive momentum in the segment has been observed since the start of this year, with a few weeks in February as an exception.

The share of WBTC in the tokenised-Bitcoin segment is 78.3%, HBTC 15.8%, renBTC 4.33%. The market position of the latter has been declining since October 2020.

As noted, the amount of assets locked in the Ethereum 2.0 deposit contract has reached the equivalent of 4.49% of the market supply of the second-largest cryptocurrency.

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