Anthony User

So you’re like me and you’re finally trying to engage in Defi with your Ether only to find out that you can’t because ETH isn’t actually an ERC-20 token and you have to wrap it into WETH first for those purposes. Below I have listed the most cost efficient ways of getting your ETH into WETH. As we dig in, data shows that the ldquoSarumanrdquo wallet is now holding over $49.1 million worth of wETH. Another big transaction shows that the same whale also bought 1,100 Wrapped Bitcoin WBTC. Saruman added around $32.5 million worth of WBTC. Meanwhile, the biggest 100 ETH whales are now holding almost $40 million worth of WBTC. It represents just 0.9% of their total holding. The table above shows the number of days which Wrapped Ethereum Sollet closed above a certain price level. Ether is not the only coin that can be wrapped. Almost all the major blockchains have a wrapped version of their native coin. Examples include: wrapped Bitcoin WBTC, wrapped BNB WBNB, wrapped AVAX WAVAX, wrapped Fantom WFTM, etc. All can be redeemed for the original coin at a 1:1 ratio, with no extra charges apart from transaction fees. We know that it is impossible to move a coin from one blockchain to another. But, wrapping such coins solves this problem. ETH can only be used on its native blockchain as opposed to WETH, which can be used on other blockchains.

Member since: Wednesday, January 17, 2024

Website: https://triplex-token.com/