Bitcoin Value $670M Leaves Centralized Exchanges After Hawkish Fed Feedback

Outflows don’t essentially suggest passive investing and buyers usually tokenize cash drained from centralized exchanges on the Ethereum blockchain to earn further yield. The variety of wrapped bitcoin (WBTC) has elevated by 13,000 this 12 months, extending the year-long rising development. WBTC is the primary ERC20 token backed 1:1 with bitcoin and represents the highest cryptocurrency on the Ethereum community.

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