Supply of Wrapped BTC (WBTC) Drops 35% From Its ATH

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• BTC’s price has risen 0.41% to trade at $16,787.57 at press time.
• WBTC’s market cap has dropped to approximately $3,110,897,115.
• The circulating supply for WBTC is 35% lower than its ATH set earlier this year.

The price of the crypto market leader Bitcoin (BTC), is trading at $16,787.57 after it gained 0.41% over the last 24 hours. This is according to the crypto market tracking website, CoinMarketCap. Its price is, however, still down 2.34% over the last 7 days.

With a circulating supply of 19,238,512, BTC’s market cap currently stands at around $323,140,684,206 at press time. Meanwhile, Wrapped Bitcoin (WBTC) is trading at the same price as BTC but has a significantly lower market cap of $3,110,897,115 at press time.

The market cap of WBTC is as low as it is because its circulating supply has fallen over the last few weeks. Currently, the circulating supply of WBTC is 186,010.

According to a tweet made today by Twitter user, Jameson Lopp (@lopp), the circulating supply of Wrapped Bitcoin peaked at an all-time high of nearly 286,000 WBTC in 2022. The tweet added that its circulating supply has since fallen by 35% to now stand at its current level.

The post Supply of Wrapped BTC (WBTC) Drops 35% From Its ATH appeared first on Coin Edition.

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