Various blockchain projects have been attempting to bring
BTC onto various platforms for some time as Bitcoin represents over 60% of the total market cap for all cryptocurrencies.
This is particularly important for DeFi dapps, which are always looking for additional liquidity. A few of the projects worth mentioning include; WBTC (Wrapped Bitcoin), imBTC (TokenIon), tBTC (Keep Network), sBTC (Synthetix), renBTC (Ren), and pBTC (ptokens).
In the latest report, DappRadar analyze the Wrapped Bitcoin capitalization change, what are the top holders of WBTC right now, what the impact WBTC have on DEXs like Uniswap.
Key Takeaways- WBTC market capitalization grew by 192% in 2020, 24% solely within May; diluted market capitalization almost doubled in May
- The TOP WBTC holder is MakerDao with 49% of the total supply
- Recent events drastically increased trading volumes across the TOP DEX
Click to read the full report -
https://dappradar.com/blog/is-wrapped-bitcoin-driving-defi-growth-right-now