Wrapped Bitcoin supplied on Aave hits record high despite backing fears
WBTC is still the most popular Bitcoin wrapper, with nearly $10 billion in TVL, according to DefiLlama.
Wrapped Bitcoin (WBTC) supplied on decentralized lending platform Aave hit an all-time high despite anxieties around the Bitcoin (BTC) wrapper’s backing, according to data from Dune Analytics.
Aave’s WBTC supply on the Ethereum network broke 37,000 in September, or more than $2 billion at current prices, according to Dune.
The record-breaking total value locked (TVL) on Aave follows a wave of skepticism among cryptocurrency retail investors about the safety of the underlying spot Bitcoin backing WBTC.
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Author: Alex O’Donnell
