{"id":109769,"date":"2021-01-23T17:55:31","date_gmt":"2021-01-23T17:55:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109769"},"modified":"2021-01-23T17:55:31","modified_gmt":"2021-01-23T17:55:31","slug":"wrapped-btc-wbtc-flips-the-market-cap-of-bitcoin-sv-bsv","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/wrapped-btc-wbtc-flips-the-market-cap-of-bitcoin-sv-bsv\/","title":{"rendered":"Wrapped BTC (WBTC) Flips the Market Cap of Bitcoin SV (BSV)"},"content":{"rendered":"<p><strong>Summary:<\/strong><\/p>\n<ul>\n<li><strong>Wrapped Bitcoin (BTC) has flipped the market cap of Bitcoin SV (BSV)<\/strong><\/li>\n<li><strong>$320 Million in market capitalization separates the two assets<\/strong><\/li>\n<li><strong>Demand for Bitcoin on Ethereum continues to increase and has fueled the growth of WBTC<\/strong><\/li>\n<li><strong>WBTC is also available on the Tron network\u00a0<\/strong><\/li>\n<\/ul>\n<p>Wrapped Bitcoin (WBTC) has surpassed the market capitalization of Bitcoin SV (BSV). This milestone was identified by the team at Coinmetrics who shared it via the following statement and chart.<\/p>\n<blockquote>\n<p><span>With the increasing demand for Bitcoin on Ethereum, <\/span><span>WBTC<\/span><span> has flipped the market cap of <\/span><span>BSV.<\/span><\/p>\n<\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/01\/WBTC-Flips-BSV-1024x567.jpg\"><\/p>\n<h2>$370M in Market Cap Separates WBTC and BSV<\/h2>\n<p>A quick glance at Coinmarketcap reveals that the market cap of Wrapped Bitcoin (BTC) currently stands at $3.572 Billion. This is roughly $370 million higher than the market cap of Bitcoin SV (BSV) at $3.2 Billion as seen in the screenshot below.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/01\/CMC-WBTC-BSV-Jan-23rd-1024x166.jpg\"><\/p>\n<h2>WBTC is Now Available on Tron<\/h2>\n<p>Therefore it is a tight race between the two digital assets with WBTC having an upper hand as it gains popularity on other networks such as Tron. With regards to the latter blockchain network, a total of 99.89 Wrapped BTC (WBTC) has been issued to date.<\/p>\n<p>The launch of WBTC on the Tron Network was made possible via a partnership between the Tron Foundation and BitGo. As with WBTC on Ethereum, Wrapped Bitcoin on Tron was launched to provide the value of BTC on the Tron Defi Ecosystem.<\/p>\n<p>Justin Sun further explained that the launch of Wrapped Bitcoin on Tron would also save users from the high gas fees on the Ethereum network. He explained:<\/p>\n<blockquote>\n<p>We are excited to expand TRON\u2019s DeFi potential by partnering with the industry leader BitGo to bring integral cross-chain solutions such as Wrapped Bitcoin (WBTC) and Wrapped Ether to TRON.<\/p>\n<p>Everyone may now use their BTC\/ETH to enjoy all the benefits of the TRON DeFi ecosystem without the high gas fees on Ethereum!<\/p>\n<\/blockquote>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/wrapped-btc-wbtc-flips-the-market-cap-of-bitcoin-sv-bsv\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Wrapped Bitcoin (BTC) has flipped the<\/p>\n","protected":false},"author":3,"featured_media":109768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wrapped BTC (WBTC) Flips the Market Cap of Bitcoin SV (BSV) - 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