What Wrapped Bitcoin represents
Wrapped Bitcoin (WBTC) is a wrapped asset, currently ranked 14th by market capitalization among the assets we track. The whole purpose of Wrapped Bitcoin is interoperability: it represents a deposited asset 1:1 on a chain that couldn't otherwise hold it. The relevant risk is custody of the underlying, not price discovery.
Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin on the Ethereum blockchain, enabling Bitcoin to be used in Ethereum-based applications and decentralized finance (DeFi). It is backed 1:1 by Bitcoin, which makes it a fully-collateralized asset.
How the peg to the underlying holds
A wrapped token holds its peg through redeemability: as long as you can burn WBTC to reclaim the underlying, arbitrage keeps the two prices locked together. The risk lives in whoever custodies the backing.
WBTC is not mined; it is issued as a token rather than secured by its own mining or staking layer.
Background & fundamentals
The project publishes a whitepaper documenting its original design, which is worth reading before sizing any position in WBTC. In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), Waves Token, and Fantom (FTM) Token.
Where Wrapped Bitcoin sits in the market
Trading around $58,650, Wrapped Bitcoin carries a market capitalization of $7.47B. Around $31.61M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 0.42% of the float — on the quieter side, which can mean thinner liquidity for large orders.
Wrapped Bitcoin carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. The token is roughly -53% under its record of $126,028 — a meaningful but not catastrophic drawdown. Measured from its all-time low of $6,695, WBTC is up +776%.
What the price history shows
Across timeframes, WBTC shows 24-hour -2.76%, 7-day -5.99%, 30-day -9.35%, 1-year -32.92%. WBTC is currently trading near the bottom of its 365-day range (around the 18th percentile of recent closes).
Volatility profile
Recent action puts Wrapped Bitcoin in the Moderate-volatility band — it shows the kind of price movement common in mid-cap crypto assets — meaningful but not unusual. Over the last 30 days the move totals -9.35%, a useful input for stop placement and position sizing.
How to evaluate a wrapped asset like Wrapped Bitcoin
The honest checklist for WBTC is short:
- Custody model — who holds the underlying behind WBTC and whether reserves are provably 1:1.
- Redeemability — how reliably WBTC can be converted back to the asset it represents.
- Underlying exposure — remember that holding WBTC is really holding the underlying — analyze that asset directly.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
