Wrapped Bitcoin ( $WBTC) has surged, with a 44% increase in market cap since early August, backed by around 147,000 $BTC empowering the DeFi ecosystem through multi-jurisdictional custody.

While new alternatives have emerged, the market continues to favor WBTC, with our growth outpacing all competitors combined.

As adoption accelerates, we welcome the competition that offers users greater flexibility and enhances the DeFi landscape. With WBTC, the power of Bitcoin is now more accessible than ever.

📊 "Wrapped Bitcoin remains the primary asset used within the DeFi ecosystem, unlocking nearly $10 billion worth of BTC bridged to Ethereum."

As Bitcoin doesn’t natively support smart contracts, #WBTC has become the key to unlocking BTC's potential within #DeFi.

Learn more in @DLNewsInfo's DeFi 3Q24 Report:

We will be migrating the WBTC official website on 10/20/2024 starting from 4:00 UTC. The website is expected to be offline for several hours. During this time, a temporary site will be available for your continued use of WBTC service.

The backup website will be available at: https://t.co/c2XSdyqk4t

We kindly ask for your patience as we complete the migration of the new website. Thank you for your understanding and continued support!

We are honored to be featured in @a16z’s 2024 State of Crypto report, recognized as the leader for highest value locked in bridged assets. This milestone highlights #WBTC’s continued popularity and trusted role within the #DeFi ecosystem!

https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/

With growing interest in wrapped assets, #WBTC is pushing innovation forward. @BitGo is expanding WBTC to @avax and @BNBCHAIN via @LayerZero_Core's OFT standard.

Meanwhile, @BitGlobalTrust boosts WBTC’s presence in Asia with regulated custody solutions.

https://cryptopotato.com/this-is-the-current-state-of-the-wrapped-bitcoin-market-cryptoquant/