![]() The total value locked in WBTC stands at roughly $12.53 billion, the fifth-largest DeFi protocol by TVL, according to DeFi Llama. Alameda alone has minted more than 9,6547.2 WBTC. The top WBTC merchants for minting WBTC include Alameda Research, CoinList, Grapefruit Trading and Three Arrows Capital. ![]() 2 tweet.Īccording to data compiled by user on Dune Analytics, the total supply of WBTC was roughly 253,876 on Dec. The hack led to the loss of 2,100 bitcoins at an estimated value of $118 million, China-based blockchain security and data analytics firm PeckShield wrote in a Dec. But the hack on BadgerDAO, which focuses on high yields on wrapped bitcoin, has raised concerns around the security of moving bitcoin to the Ethereum blockchain. The rapidly growing demand for WBTC comes as yields for bitcoin borrowing and lending have grown less competitive compared with the lucrative DeFi lending market. Wrapped bitcoin, an ERC-20 token on the Ethereum blockchain that is collateralized 1-to-1 with bitcoin, has more than doubled its supply from a year ago, as traders and investors seek alternative high-yield opportunities in DeFi. Last week’s hack on decentralized finance (DeFi) protocol BadgerDAO put a major but less talked-about cryptocurrency in the spotlight once again. ![]()
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