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🎓 A whale buys a bitcoin encapsulated in “WBTC” for $6.5 million

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According to data tracking website WhaleStats, in a tweet on Twitter, one of the world’s largest whales with a rating of 830 has bought a large amount of the closed cryptocurrency wbtc.

The whale purchase was valued at $6.5 million by Whalests in which he purchased 153 wbtc coins.

what is wbtc

WBTC is a bitcoin encapsulated coin with a price similar to bitcoin but operates on the ERC-20 network and not on the bitcoin network itself.

WBTC also works with Bitcoin in a 1:1 ratio through a network of automatically monitored merchants and custodians, ensuring its price is pegged to Bitcoin at all times and allowing users to transfer liquidity between the Bitcoin network and Ethereum in a decentralized and independent way. conduct.

The closed cryptocurrency was created with the aim of transferring Bitcoin liquidity to decentralized finance liquidity pools, including decentralized platform liquidity pools, lending services, etc., as we have in a previous article: Is Wbtc Halal or Haram?

Today, the price of Bitcoin rose in the markets, reaching 42 thousand dollars, which led to the recovery of the cryptocurrency markets in general.

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