Wrapped Bitcoin Up More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Wrapped Bitcoin (WBTC) has seen a 3.61% increase in price over the last 24 hours, reaching $63,722.00, despite a weekly downtrend of 11%. The coin's all-time high is $73,505.00. Trading volume surged by 96% over the week, with the circulating supply slightly up by 0.03% to over 155 thousand, matching its max supply. WBTC's market cap ranks it 14th at $9.86 billion.
April 18, 2024 | 3:01 pm
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Wrapped Bitcoin (WBTC) experienced a 3.61% price increase in the last 24 hours, reaching $63,722.00, amidst a weekly decline of 11%. The trading volume has significantly increased by 96%, and the circulating supply is fully tapped at 155 thousand, aligning with its max supply.
The short-term price increase of WBTC, despite a recent downtrend, indicates a potential rebound or market correction, positively impacting investor sentiment. The significant rise in trading volume suggests increased interest and liquidity, potentially leading to further price stability or increases. The fact that the circulating supply has reached its max could imply a scarcity effect, further supporting price increases in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100