Crypto data sites are double-counting tokenized Bitcoin, with three BTC tokenization protocols representing more than 1.4% of the reported altcoin market cap.
Tokenized Bitcoin is booming, with the increasing demand from DeFi combined with BTC’s recent meteoric price rise has resulted in three Bitcoin tokenization protocols ranking among the 70 largest crypto markets.
According to popular market data aggregators CoinGecko and CoinMarketCap, Wrapped Bitcoin (WBTC) currently ranks as the 13th-largest market boasting a capitalization of $4.04 billion, with roughly 0.6% of Bitcoin’s supply currently locked in the protocol.