Wrapped Bitcoin’s (WBTC) supply drops 35% from its ATH.
Bitcoin (BTC), the most popular cryptocurrency, is trading at $16,787.57, up 0.41% in the last 24 hours. This is what the website CoinMarketCap, which tracks the cryptocurrency market, says. Its price has gone down 2.34 percent in the last week.
At press time, BTC’s market cap was around $323,140,684,206, and there were 19,238.512 coins in circulation. At press time, Wrapped Bitcoin (WBTC) was trading at the same price as BTC, but its market cap was much lower, at $3,110,897,115.
WBTC’s market cap is so low because the number of coins in circulation has gone down over the last few weeks. At the moment, there are 186,010 WBTC in circulation.
Related: Bitcoin’s (BTC) weekly trend continues with a 24-hour gain.
A tweet from Jameson Lopp (@lopp) today says that the number of wrapped bitcoins in circulation reached an all-time high of nearly 286,000 WBTC in 2022. The tweet also said that since then, the amount in circulation has dropped by 35% to where it is now.
Wrapped Bitcoin (WBTC) supply drops by 35% from its highest point. This article originally appeared on Coin Edition.