A month in full swing – September was the month of all records for tokenized assets on Ethereum. Indeed, BitGo allowed BTCs stored on Ethereum to exceed $ 1 billion by tokenizing $ 616 million worth of BTC during this period.
BTC en masse on Ethereum
We were talking to you about it in mid-September. The amount of tokenized bitcoins on Ethereum has passed the symbolic billion dollar mark . Now, more than 127,400 BTC are tokenized on Ethereum , for an estimated amount of $ 1.371 billion .
Evolution of the number of BTC tokenized on the Ethereum network – Source: Btconethereum
Among available assets, WBTC accounts for 73% of all tokenized versions of bitcoin, with 93,283 WBTC created. As a result, WBTC is the first tokenized BTC asset to exceed $ 1 billion in value, with $ 1.003 billion at the time of writing.
September: a crazy month for the WBTC
September has been a particularly good month for BitGo, the WBTC issuing company.
In fact, within a month, the company issued the equivalent of $ 616 million in WBTC , according to data compiled by CoinDesk . This represents an increase of 164% compared to August.
According to Getty Hill, trader at Grapefruit Trading, an OTC ( over the counter ) trading platform , this development reflects the desire of their clients to capitalize on the growth of the DeFi ecosystem.
The battle of tokenized BTCs on Ethereum, quite a story “
For once, it is Alameda Research which is the main creator of WBTC, due to the request of its sister company, FTX. In August, it mined $ 160 million from WBTC, a figure that nearly doubled in September to $ 306 million .
Comparison of WBTC Purchases in August and September, by Major Companies – Source: CoinDesk
In addition, this increase can be explained by the arrival of new players in the creation of WBTC, such as Three Arrows Capital and Grapefruit Trading who, between them, created almost 100 million dollars in WBTC.