Wrapped Bitcoin Rises More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has seen a 4.11% increase in price over the last 24 hours, reaching $46,629.00, and a 3.0% gain over the past week. The coin's all-time high is $70,643.00. Trading volume for WBTC has risen by 10.0% over the past week, and the circulating supply has increased by 0.08% to 158 thousand, which is the total max supply. WBTC's market cap is currently ranked #17 at $7.37 billion.
January 09, 2024 | 3:00 pm
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POSITIVE IMPACT
Wrapped Bitcoin (WBTC) has experienced a significant price increase and a rise in trading volume, indicating a positive trend in the short term.
The price and trading volume increase for Wrapped Bitcoin (WBTC) suggests a strong short-term bullish sentiment among investors. The fact that the circulating supply has reached its max could also imply a scarcity effect, potentially driving prices up further. However, the volatility indicated by the Bollinger Bands suggests that traders should be cautious of potential price swings.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100