10,612%. That’s the YTD growth rate of BTC on Ethereum going from 1,110 to 120,016 BTC on Ethereum, totaling $1.3b. Parabolic growth in a segment of crypto typically sends flashing signals that there is money to be made in more ways than one.
The simplified explanation for the growth is that this BTC on Ethereum grants additional utility in DeFi and targets attractive yields. Similar to how the market favors USDT as the go-to stablecoin for its deep liquidity and brushes off centralization concerns, wBTC has become the “USDT of BTC on Ethereum”.
With the re-launch of Keep Network’s tBTC, I wanted to focus on that side of the equation for the project, with this additional flavor of BTC now in the picture that’s more decentralized. Since the issue with signer’s bonds at risk earlier this year, tBTC has gone through three security audits led by names such as ConsenSys and Trail of Bits. tBTC has now shifted to a release candidate model where progress