RATE Group | Ethereum now has twice as many wBTC as the Lightning Network
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Ethereum now has twice as many wBTC as the Lightning Network

16 May Ethereum now has twice as many wBTC as the Lightning Network

Posted at 12:02h in Cryptocurrency News by

  • Ethereum now holds twice as many BTC in Wrapped Bitcoin that BTC’s own Lightning Network.
  • Since MakerDao brought wBTC to Ethereum, the amount in locked Bitcoins exceeded $22 million.
  • Meanwhile, Bitcoin’s Lightning Network currently only stores $9.2 million in BTC.

Recently, we reported about Ethereum’s MakerDao making a move that will bring Bitcoin to Ethereum’s blockchain. The move was considered rather revolutionary, and it brought the coin to Ethereum in the form of Wrapped Bitcoin (wBTC).

Now, only a short period later, the amount of wBTC on Ethereum managed to climb to as much as $22.5 million. In fact, the amount exceeded that of Bitcoin’s own Lightning Network by more than two times.

More wBTC on Ethereum than BTC within the Lightning Network

As many likely know, DeFi (decentralized finance) has been one of the biggest trends in the crypto industry lately. It certainly was the most popular part of Ethereum’s ecosystem.

The last several months were not the…

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