Developed by BitGo, Kyber Network, and Ren, Wrapped Bitcoin (WBTC) continues to lead the tokenized BTC market with over 65% market share. 🎉 According to a Binance Research report, WBTC’s weekly transaction count hit a record 123,200. This success is attributed to the expanded operations thanks to the partnership with BitGlobal and Tron founder Justin Sun.

However, Sun’s involvement in the project has been criticized by some community members. BitGo CEO Mike Belshe tried to calm concerns by stating that Sun could not move funds alone. Following the criticism, other wrapped Bitcoin tokens such as Coinbase’s cbBTC have also entered the market.

On the Ethereum side, it has been observed that ETH has exhibited an inflationary trend as transaction fees have decreased following the network’s recent updates. Binance Research stated that ETH could return to its deflationary status if there is a significant increase in network activity. 🚀