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Wrapped Bitcoin ‘Burns’ Increase as Traders Rotate Capital Out of Cooling DeFi

Wrapped Bitcoin, the bitcoin-backed token on Ethereum now worth over $2 billion, has seen an increase in burns (or “unwrappings”) by some of its largest users as the Ethereum-based decentralized finance sector continues to cool.BitGo clients like Three Arrows Capital and Alameda Research are exchanging an increasing amount of their

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Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion

Analysts are bullish on bitcoin’s price but the options market is decidedly bearish on the remaining weeks of 2020. Ethereum’s wrapped bitcoin token crosses $2 billion locked.Bitcoin (BTC) trading around $16,240 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours.Bitcoin’s 24-hour range: $15,971-$16,487BTC above its

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Traders apathetic as Huobi launches two new wrapped assets on Ethereum

Following the success of HBTC -- the wrapped Bitcoin tradable on Ethereum currently securing nearly $70 million in BTC -- Huobi Global has released the latest in its “H-token” series: Litecoin and Bitcoin SV. However, traders and developers thus far don’t seem interested.First announced in September, the H-token series promised to

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Privacy Coin Zcash Makes Its Ethereum ‘Wrapped’ Debut With Tokensoft and Anchorage

Remember when crypto exchanges were strong-armed into delisting privacy coins like zcash (ZEC) in order to protect their brittle banking covenants?But crypto keeps moving, and today ZEC is making its debut within the bustling decentralized exchange (DEX) ecosystem in the form of wrapped zcash (WZEC). Announced Wednesday, WZEC is the

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