A considerable percentage of Bitcoin’s circulating supply has now been locked up to be utilized on the Ethereum blockchain. According to The Block’s Data Dashboard, 240,000 bitcoin has now been wrapped onto Ethereum. This represents 1.3% of its current circulating supply (and 1.1% of Bitcoin’s eventual total supply). The amount of tokenized bitcoin has increased by 100,000 BTC since the start of the year and has been growing at a rapid clip.
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