{"id":436833,"date":"2020-09-01T01:00:18","date_gmt":"2020-09-01T01:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=436833"},"modified":"2024-06-11T14:15:48","modified_gmt":"2024-06-11T14:15:48","slug":"ethereum-wrapped-bitcoin-supply-august-defi","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/","title":{"rendered":"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?"},"content":{"rendered":"<p>The <a href=\"https:\/\/wncen.com\/2020\/08\/28\/why-defi-bulls-being-over-90-net-long-is-dangerous-a-for-crypto\/\">decentralized finance movement<\/a> has helped drive up the value of Ethereum and other ERC-20 based projects compared to Bitcoin and other assets. It has prompted even Bitcoin holders to &#8220;wrap&#8221; their BTC in Ethereum.<\/p>\n<p>The amount of BTC supply wrapped in Ethereum has doubled in August alone, but why exactly is this happening, and what does it mean for Bitcoin?<\/p>\n<h2>Explosive DeFi Trend Teaches Old Dogs New Tricks As Crypto Adapts<\/h2>\n<p>The <a href=\"https:\/\/wncen.com\/2020\/08\/28\/why-defi-bulls-being-over-90-net-long-is-dangerous-a-for-crypto\/\">buzz surrounding DeFi<\/a> has breathed new life into the crypto market, but no assets more than Ethereum any related projects. Ethereum is up over 200% year to date as a result.<\/p>\n<p>The DeFi bandwagon has created a thriving sub-industry, where crypto insiders speculate on assets they know full well are potentially &#8220;worthless&#8221; yet are willing to risk capital anyway.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/08\/28\/why-defi-bulls-being-over-90-net-long-is-dangerous-a-for-crypto\/\">Why DeFi Bulls Being Over 90% Net Long Is Dangerous a For Crypto<\/a><\/strong><\/em><\/p>\n<p>So far, these insiders have been making a fortune. Several DeFi projects have risen the ranks of the crypto market top 100, while one such token has now more than tripled the price per BTC currently.<\/p>\n<p>The amount of ETH tokens locked up in DeFi has soared throughout the year. Now, Bitcoin is following a similar path, with the amount of the BTC supply wrapped in Ethereum doubling in August alone <a href=\"https:\/\/insights.glassnode.com\/the-week-on-chain-week-35-2020\/\" target=\"_blank\" rel=\"noopener nofollow\">according to glassnode data<\/a>.<\/p>\n<p>But what is the reason for crypto investors moving their Bitcoin to Ethereum, and how does this benefit the holder over traditional BTC?<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"size-large wp-image-436838 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/etheruem-wrapped-bitcoin-wbtc.png?fit=860%2C860\" alt=\"etheruem wrapped bitcoin wbtc\" loading=\"lazy\"><\/p>\n<h2>Why Ethereum Wrapped Bitcoin (WBTC) Supply Has Doubled Over The Last Month<\/h2>\n<p>As the first-ever cryptocurrency, it was designed to be a peer-to-peer electronic replacement for cash. The altcoins that came after its creation, have a lot more tricks up their sleeve. Ethereum&#8217;s smart contracts allow it to do a lot more than Bitcoin can.<\/p>\n<p>Ethereum can also lend some of its abilities to Bitcoin, by &#8220;wrapping&#8221; each BTC.<\/p>\n<p>Each WBTC is an <a href=\"https:\/\/wncen.com\/2018\/03\/27\/coinbase-announces-plans-to-add-support-from-erc20-tokens\/\">ERC-20 smart contract<\/a> tied 1:1 to a corresponding BTC asset. As for why anyone would do such a thing, wrapping BTC this way bestows it some of the attributes of an ERC-20 token.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/08\/25\/buy-crypto-search-term-spikes-to-highest-point-since-bitcoin-bubble\/\">Buy Crypto: Search Term Spikes To Highest Point Since Bubble<\/a><\/strong><\/em><\/p>\n<p>For example, it allows Bitcoin to be lent out in DeFi apps or to be traded on <a href=\"https:\/\/wncen.com\/2020\/08\/20\/dangers-of-defi-hype-surface-following-one-hour-crypto-scam\/\">decentralized cryptocurrency exchanges<\/a>.<\/p>\n<p>Bitcoin is arguably the biggest and therefore the best cryptocurrency. But by wrapping it in Ethereum, it makes a good thing even better and teaches this old dog a few new tricks.<\/p>\n<p>The ability to wrap BTC has been around for some time, but the recent DeFi lending buzz and <a href=\"https:\/\/wncen.com\/2020\/08\/20\/dangers-of-defi-hype-surface-following-one-hour-crypto-scam\/\">explosion of Uniswap<\/a> has made wrapping BTC far more attractive. It also has the side effect of making the leading cryptocurrency by market cap far more versatile.<\/p>\n<p>Could the ultimate cryptocurrency be WBTC? Rapidly rising supply at least says it has growing merit and could become even more attractive in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The decentralized finance movement has helped drive up the value of Ethereum and other ERC-20 based projects compared to Bitcoin and other assets. It has prompted even Bitcoin holders to &#8220;wrap&#8221; their BTC in Ethereum. The amount of BTC supply wrapped in Ethereum has doubled in August alone, but why exactly is this happening, and what does it mean for Bitcoin? Explosive DeFi Trend Teaches Old Dogs New Tricks As Crypto Adapts The buzz surrounding DeFi has breathed new life into the crypto market, but no assets more than Ethereum any related projects. Ethereum is up over 200% year to date as a result. The DeFi bandwagon has created a thriving sub-industry, where crypto insiders speculate on assets they know full well are potentially &#8220;worthless&#8221; yet are willing to risk capital anyway. Related Reading | Why DeFi Bulls Being Over 90% Net Long Is Dangerous a For Crypto So far, these insiders have been making a fortune. Several DeFi projects have risen the ranks of the crypto market top 100, while one such token has now more than tripled the price per BTC currently. The amount of ETH tokens locked up in DeFi has soared throughout the year. Now, Bitcoin is following a similar path, with the amount of the BTC supply wrapped in Ethereum doubling in August alone according to glassnode data. But what is the reason for crypto investors moving their Bitcoin to Ethereum, and how does this benefit the holder over traditional BTC? Why Ethereum Wrapped Bitcoin (WBTC) Supply Has Doubled Over The Last Month As the first-ever cryptocurrency, it was designed to be a peer-to-peer electronic replacement for cash. The altcoins that came after its creation, have a lot more tricks up their sleeve. Ethereum&#8217;s smart contracts allow it to do a lot more than Bitcoin can. Ethereum can also lend some of its abilities to Bitcoin, by &#8220;wrapping&#8221; each BTC. Each WBTC is an ERC-20 smart contract tied 1:1 to a corresponding BTC asset. As for why anyone would do such a thing, wrapping BTC this way bestows it some of the attributes of an ERC-20 token. Related Reading | Buy Crypto: Search Term Spikes To Highest Point Since Bubble For example, it allows Bitcoin to be lent out in DeFi apps or to be traded on decentralized cryptocurrency exchanges. Bitcoin is arguably the biggest and therefore the best cryptocurrency. But by wrapping it in Ethereum, it makes a good thing even better and teaches this old dog a few new tricks. The ability to wrap BTC has been around for some time, but the recent DeFi lending buzz and explosion of Uniswap has made wrapping BTC far more attractive. It also has the side effect of making the leading cryptocurrency by market cap far more versatile. Could the ultimate cryptocurrency be WBTC? Rapidly rising supply at least says it has growing merit and could become even more attractive in the future.<\/p>\n","protected":false},"author":517,"featured_media":436837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[428,1119,1144,78790,14063,65296,1946,8686,78803,12182,82801,4524,76835],"class_list":["post-436833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-erc-20","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt","tag-wbtc","tag-wrapped-bitcoin","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?<\/title>\n<meta name=\"description\" content=\"Could the ultimate cryptocurrency be Ethereum wrapped Bitcoin? Rapidly rising supply shows an unstoppable trend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?\" \/>\n<meta property=\"og:description\" content=\"Could the ultimate cryptocurrency be Ethereum wrapped Bitcoin? Rapidly rising supply shows an unstoppable trend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-01T01:00:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:15:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/\"},\"author\":{\"name\":\"Tony \\\"The Bull\\\" Severino\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?\",\"datePublished\":\"2020-09-01T01:00:18+00:00\",\"dateModified\":\"2024-06-11T14:15:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/\"},\"wordCount\":492,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534\",\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"BTCUSDT\",\"ERC-20\",\"ethbtc\",\"ethereum\",\"ethusd\",\"ETHUSDT\",\"WBTC\",\"wrapped bitcoin\",\"xbt\",\"xbtusd\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\",\"Ethereum\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/\",\"name\":\"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534\",\"datePublished\":\"2020-09-01T01:00:18+00:00\",\"dateModified\":\"2024-06-11T14:15:48+00:00\",\"description\":\"Could the ultimate cryptocurrency be Ethereum wrapped Bitcoin? Rapidly rising supply shows an unstoppable trend.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534\",\"width\":2560,\"height\":1534,\"caption\":\"golden bitcoin coins wrapped as gift virtual money\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\",\"name\":\"Tony \\\"The Bull\\\" Severino\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"caption\":\"Tony \\\"The Bull\\\" Severino\"},\"description\":\"Tony \\\"The Bull\\\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/wncen.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?","description":"Could the ultimate cryptocurrency be Ethereum wrapped Bitcoin? Rapidly rising supply shows an unstoppable trend.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/","og_locale":"en_US","og_type":"article","og_title":"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?","og_description":"Could the ultimate cryptocurrency be Ethereum wrapped Bitcoin? Rapidly rising supply shows an unstoppable trend.","og_url":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2020-09-01T01:00:18+00:00","article_modified_time":"2024-06-11T14:15:48+00:00","og_image":[{"width":2560,"height":1534,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534","type":"image\/jpeg"}],"author":"Tony \"The Bull\" Severino","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/tonythebullBTC","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Tony \"The Bull\" Severino","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/"},"author":{"name":"Tony \"The Bull\" Severino","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d"},"headline":"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?","datePublished":"2020-09-01T01:00:18+00:00","dateModified":"2024-06-11T14:15:48+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/"},"wordCount":492,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534","keywords":["bitcoin","btc","btcusd","BTCUSDT","ERC-20","ethbtc","ethereum","ethusd","ETHUSDT","WBTC","wrapped bitcoin","xbt","xbtusd"],"articleSection":["Bitcoin","Cryptocurrency Market News","Ethereum"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/","url":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/","name":"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534","datePublished":"2020-09-01T01:00:18+00:00","dateModified":"2024-06-11T14:15:48+00:00","description":"Could the ultimate cryptocurrency be Ethereum wrapped Bitcoin? Rapidly rising supply shows an unstoppable trend.","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534","width":2560,"height":1534,"caption":"golden bitcoin coins wrapped as gift virtual money"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d","name":"Tony \"The Bull\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"The Bull\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?","url":"http:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-wrapped-bitcoin-supply-august-defi\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","erc-20","ethbtc","ethereum","ethusd","ethusdt","wbtc","wrapped bitcoin","xbt","xbtusd"],"dateCreated":"2020-09-01T01:00:18Z","datePublished":"2020-09-01T01:00:18Z","dateModified":"2024-06-11T14:15:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-wrapped-bitcoin-supply-august-defi\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-wrapped-bitcoin-supply-august-defi\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"erc-20\",\"ethbtc\",\"ethereum\",\"ethusd\",\"ethusdt\",\"wbtc\",\"wrapped bitcoin\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-09-01T01:00:18Z\",\"datePublished\":\"2020-09-01T01:00:18Z\",\"dateModified\":\"2024-06-11T14:15:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/ethereum-bitcoin-Depositphotos_185100604_xl-2015-scaled.jpg?fit=2560%2C1534","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/436833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=436833"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/436833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/436837"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=436833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=436833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=436833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}