news

bitcoin

1 X bitcoin bitcoin =

Thursday

09 July 2020

Despite Trust Model Debates, Ethereum Is Bitcoin's Largest Sidechain by Total Value Locked | Altcoins Bitcoin News

Despite Trust Model Debates, Ethereum Is Bitcoin's Largest Sidechain by Total Value Locked | Altcoins Bitcoin News


smart summary beta

The Ethereum network now has more bitcoin held in reserves than the Lightning Network, according to onchain statistics.

At the time of publication, Wrapped Bitcoin (WBTC) has close to 4,000 BTC ($34.7M) held in reserves, while the Lightning Network has only 925 BTC ($8.3M).

This is because the Total Value Locked (TVL) for BTC-pegged ETH tokens has surpassed both Lightning Network and Blockstream’s Liquid platform combined.

The BTC-pegged ETH tokens called Wrapped Bitcoin (WBTC) have seen massive demand lately, and at the moment there is 3.9k BTC held in the WBTC reserves.

In addition to WBTC, the Ethereum network also has a number of other BTC-pegged ETH tokens and the protocol also has more tether (USDT) than the Omni Layer network.

On Twitter, someone commented on how there is 2.5X more BTC on Ethereum than Blockstream’s Liquid project.

Goto Full Article

bitcoin bitcoin price

$9106.76

24h

Live Average

bitcoin

News Article Sentiment

positive

Score (0)

Image

Litecoin (LTC) Price Analysis: Facing Key Hurdles Near $45
published: 1 month ago
Litecoin price is showing signs of an upside correction against the US Dollar, similar to bitcoin. LTC price must clear the $45.00 hurdle to start a sustained upward move in the near term.

sentiment (-0.3) Negative

Article Metadata

author

site

bitcoin.com
Market data feeds provided by cryptocompare.com
bitsmart 2018