Stats Show Over 53,000 Wrapped Bitcoins Were Removed From Circulation in the Last 3 Months
Three months ago, there were 441,546 wrapped or synthetic bitcoins on the Ethereum and Binance Smart Chain worth $17.45 billion using exchange rates on April 24, 2022. Since then, that number has dropped by 53,582 synthetic bitcoins and today the number of wrapped or bonded bitcoins is approximately 387,964 worth $8.81 billion in value.
A great majority of these types of tokens stem from the Wrapped Bitcoin project as the ERC20’s market cap is the 18th largest among 13,373 crypto assets. At press time, WBTC has a circulating supply of around 236,882 wrapped bitcoins with a valuation of around $5.38 billion today. Stats from Dune Analytics’ dashboard on July 24, 2022, and a snapshot of metrics recorded on April 23, 2022.
However, WBTC’s circulating supply has decreased a great deal over the last three months as there was 280,505 WBTC in existence on April 23, 2022, according to
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