Wrapped Bitcoin (WBTC) has been stirring up much attention within the crypto ecosystem with its innovative use and interoperability properties. Crypto heavyweight
BitGo recently deployed WBTC on Avalanche and BNB Chain, providing more accessibility to its usage across multiple platforms. Meanwhile, a considerable WBTC holder is heading towards a potential $26,470,000 liquidation on Compound, adding tension to the market. Amid decentralization debates,
Aave is contemplating the integration of Coinbase's
cbBTC Wrapped Bitcoin on its V3 Base. Meanwhile, BitGo and 21Shares push forth the advantages of using WBTC, even amidst a collective shift in the WBTC custody system.
Coinbase continues to tease its Wrapped Bitcoin alternative, deemed cbBTC, potentially revolutionizing DeFi adoption of Bitcoin. As WBTC falls under scrutiny, Solana-based competitors are positioned to fill the potential market gap. A significant wallet loss worth $69,300,000 due to an apparent poisoning scam influences negative pressure on WBTC price. A response to the controversy is noted with BitGo's ongoing defense of their WBTC transparency and security measures. As the crypto world pivots and fluctuates, the value of WBTC increases by more than 3% within 24 hours, fostering a bullish market sentiment.
Wrapped Bitcoin News Analytics from Mon, 25 Dec 2023 08:00:00 GMT to Wed, 11 Sep 2024 19:49:57 GMT -
Rating 3
- Innovation 7
- Information 7
- Rumor -5
