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BTC $48162.58 (-1.1%)
ETH $3436.26 (-2.3%)
USDT $0.99 (-0.1%)
BCH $637.41 (0.23%)
BSV $158.91 (-0.5%)
LTC $180.87 (-1.6%)
BNB $410.97 (-1.8%)
ADA $2.37 (-1.1%)
DOGE $0.24 (-1.6%)

Miners can Finally Begin Minting WBTC and WETH as TRC-20 Tokens

Miners can Finally Begin Minting WBTC and WETH as TRC-20 Tokens
  • BitGo launched WBTC and WETH as TRC-20 tokens
  • BitGo clients have already begun minting these wrapped tokens
  • WBTC price stands $35,366 and WETH price stands at $1,116

Months after BitGo’s partnership with Tron, the digital asset platform has finally launched Wrapped Bitcoin (WBTC) on the Tron blockchain. Miners have eagerly awaited this day since the alliance back in September 2020.

The blockchain ran test mints in Mid-December. After this, nearly 100 BTC underwent wrapping and minting as TRC-20 tokens. This makes it roughly $3.4 million worth of TRC-20 WBTC in the crypto pool.

BitGo has also launched Wrapped Ethereum (WETH) as a TRC-20 token as well. This was a venture planned since the alliance. It has finally reached fruition.

Founder of the Tron blockchain, Justin Sun says that their alliance with Bitgo has finally led to launching these fine cross-chain solutions.

As a leader in digital asset custody, finance, and trading, BitGo provides notable security solutions to its clients. These clients have already begun minting Wrapped Bitcoin and Wrapped Ethereum on the new Tron blockchain.

BitGo’s original project with ERC-20 Wrapped Bitcoin saw impressive growth in the second half of 2020. It peaked at just over 124.000 WBTC in November, but, has since dropped to almost 110,000 tokens.

In September, all the Ethereum based tokenized bitcoin project together surpassed $1 billion. Currently, BitGo holds $3.8 billion worth of BTC from both blockchains on its own.

Presently, the price of WBTC stands at $35,366 and the price of WETH stands at $1,116.

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