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Wrapped Bitcoin

WBTC Medium of Exchange DeFi Wrapped Tokens
$64,105.09
+1.27% (24h)

Market Stats

Price
$64,105.09
+1.27% (24h)
Market Cap
$7.5B
Volume (24h)
$91.86M
Supply
116,499.20 WBTC
FDV
$7.47B

Shariah Analysis

Yes
Project
Token
Reward

As of now, the projects run by Wrapped Bitcoin appear to be in accordance with Shariah principles.

Last Screening: Q3 2024

Risk Categories
Shariah status

Shariah

Passed
Assessment category

Legitimacy Risk

Passed
Assessment category

People Risk

Passed
In-Depth Analysis
Project Token Reward System Legitimacy
Project/Products Use Case Status
WBTC Token Wrapped Bitcoin (WBTC) enhances liquidity in the Ethereum ecosystem by bridging Bitcoin with decentralized exchanges (DEXs) and financial applications. By converting Bitcoin into an ERC20 token, WBTC allows Bitcoin to be used seamlessly in Ethereum's smart contracts and decentralized finance (DeFi) platforms. This integration simplifies the management of multiple currencies, as exchanges, wallets, and payment apps only need to maintain an Ethereum node. Consequently, WBTC facilitates greater trading volume on DEXs, leveraging Bitcoin's liquidity in the Ethereum network and streamlining financial operations across both ecosystems. Passed

Technical Analysis

Support & Resistance
Support 2
60680.84
Support 1
59702.3
Last Price
59881.54
Resistance 1
66160.52
Resistance 2
66549.45
Pivot Points
Support 2
57445.11
Support 1
58663.33
Pivot Point
59593.52
Resistance 1
60811.74
Resistance 2
61741.93
Trading Signals
42 indicators
Trend
Moving Average (Mid Term) Weak
Ichimoku Cloud Neutral
Momentum
Relative Strength Index Weak
Moving Average Convergence/ Divergence Weak
Vol & Volatility
On-Balance Volume Strong
Average True Range Strong
Signal strength 39 / 100
Moving Average (Short Term) Weak
Moving Average (Mid Term) Weak
Moving Average (Long Term) Weak
Exponential Moving Average (Short Term) Weak
Exponential Moving Average (Mid Term) Weak
Exponential Moving Average (Long Term) Weak
Bollinger Band Weak
Williams %R Neutral
Relative Vigor Index Strong
Money Flow Index Neutral
Chaikin Oscillator Weak
Aroon Weak
Klinger Oscillator Weak
Chande Kroll Stop Weak
Moving Average Convergence/ Divergence Weak
Relative Strength Index Weak
Stochastic Weakest
Parabolic SAR Weak
Average Directional Index
Ichimoku Cloud Neutral
Average True Range Strong
Commodity Channel Index Weak
On-Balance Volume Strong
Volume Weighted Average Price Neutral
Keltner Channel Neutral
Dochian Channel Neutral
Choppiness Index Neutral
Ergodic Oscillator Strong
Ease of Movement Weak
Ultimate Oscillator Neutral
Elder Force Index Weak
Connors RSI Strong
Rate of Change Weak
Chande Momentum Oscillator Neutral
Triple Exponential Average Strong
Know Sure Thing Strong
Detrended Price Oscillator Weak
Moving Average Envelope Strong
Coppock Curve Weak
Vortex Indicator Weak
Schaff Trend Cycle Weak
Elder Impulse System Weak

AI Price Prediction

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AI-generated analysis only. Not financial advice.

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About Wrapped Bitcoin

Wrapped Bitcoin (WBTC) is an ERC-20 token on the Ethereum blockchain that represents Bitcoin (BTC) at a 1:1 ratio. Created to enable Bitcoin holders to engage with Ethereum-based decentralized finance (DeFi) applications, WBTC is backed by actual Bitcoin reserves, with custody managed by BitGo. Each WBTC token is directly convertible to one Bitcoin, ensuring that the supply of WBTC is fully collateralized.

Consensus Mechanism

Token