Wrapped Bitcoin (WBTC) Price Prediction – 2023, 2025, 2030

Wrapped Bitcoin (WBTC) Overview

Wrapped Bitcoin (WBTC) Introduction

Wrapped cryptocurrencies are designed to enable crypto assets to be used on blockchains they were not created for or are non-natives. The pivot on Interoperability in the crypto network has brought Bitcoin, Ethereum, and other popular tokens to smart contract platforms, including the Polygon ecosystem (MATIC). Wrapped cryptocurrencies induce liquidity and increase the utility of popular Decentralized Finance (DeFi) applications and smart contract platforms. Other reasons why cryptocurrencies are wrapped include taking advantage of some blockchain functions that a cryptocurrency asset might not have on its native protocol or token swapping.

However, since the creation of Bitcoin in 2008, it has grown to become the world’s largest and most recognized cryptocurrency. Still, the technology backing the revolutionary peerless electronic payment system has not been changed. But the shortcomings of Bitcoin led to the creation of smart contract blockchains like Ethereum, where developers have built a thriving ecosystem for decentralized finance applications, exchanges, prediction markets, and crypto lending services. So to utilize Bitcoin within the DeFi or Ethereum blockchain, it is required to create an ERC-20 token that represents it, called Wrapped Bitcoin (WBTC). The wrapped version of Bitcoin aims to merge the best parts of both worlds by bringing the liquidity and value of Bitcoin to the versatile and dynamic world of DeFi.

In this Wrapped Bitcoin price prediction guide, we will evaluate the WBTC ecosystem and its past performance in the cryptocurrency market. After proper analysis with our price forecast system, we will also discuss the expected minimum price value, average price level, and maximum price.

What is Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin is an ERC-20 token designed as a directed representation of Bitcoin as one BTC is equal to one WBTC — a 1:1 ratio. A WBTC can be swapped to a BTC and vice versa. Many of the most popular Decentralized Applications (DApps) on the Ethereum network require using collateral before taking a loan. For example, Compound and MakerDAO need their users to lock up crypto assets to borrow other assets. Protocols get increased liquidity, enabling them to develop more sources of collateral for their applications by bringing Bitcoin over to their network because the overall worth of Bitcoin is significantly larger than Ethereum, limiting how much the dependent protocols can grow. Wrapped Bitcoin also grants the Bitcoin asset holders the right to DeFi Applications like Compound to lend or borrow capital.

The Bitcoin and Ethereum blockchain were created as two separate chains without any native means of communication or operation, as trust between two users is required. Compared to the Bitcoin network, the Wrapped Bitcoin (WBTC) relies on people and organizations to ensure the management of its system instead of on a pure code program that might induce a level of insecurity and trustlessness within the ecosystem. However, Wrapped Bitcoin undergoes audits regularly to ensure trust and integrity and releases all on-chain transactions and validations for Bitcoin and Ethereum networks. The publication of these audits helps the users to independently verify the amount of BTC sent to the WBTC address on the Bitcoin network and then check if the transactions are matched with the creation of Wrapped Bitcoin tokens on the Ethereum blockchain. The reverse method of burning WBTC to redeem Bitcoin can also be monitored on the chain.

For the production of WBTC, the governance body of the Wrapped Bitcoin DAO makes decisions on significant changes and upgrades in the protocol, as well as who can be given the role opportunities of a merchant and custodian who oversee the system operation. BTC owners on the network who want to swap it to WBTC must interact with merchants. The merchants are the ones who initiate the process of burning or minting WBTC tokens by conducting verification procedures for user identity confirmation. At the same time, custodians hold the BTC being wrapped and do the actual burning and minting of tokens on the Ethereum network. When Wrapped Bitcoin is burned, BTC is sent back to the users from the custodian. Bitcoin is taken from the user and secured by the custodian when a new WBTC is minted.

Wrapped Bitcoin (WBTC) Fundamental Analysis

WBTC belongs to a Wrapped Token project handled by three organizations: Ren, BitGo, and Kyber network.

Ren was founded by Loong Wang and Taiyang Zhang in 2017 as a cross-blockchain integration protocol for cryptocurrency assets and Decentralized Applications through RenBridge, RenVM, and other solutions. BitGo was founded by Mike Belshe 2013, an entrepreneur and software scientist, as a trading and financial service firm and the original custodian in the WBTC network. Kyber Network, which Loi Luu, Yaron Velner, and Victor Tran founded in 2017 in Singapore, is an on-chain liquidity blockchain that supports the integration of various cryptocurrency tokens and DeFi applications. Kyber Network and Ren serve as merchants on the WBTC network.

Tokenomics

The Wrapped Bitcoin has BTC as its underlying asset at a 1:1 ratio which signifies that the amount of WBTC in circulation is directly dependent on the number of BTC reserves in the Wrapped Bitcoin network. WBTC is instantly minted or burned whenever users sell or purchase their tokens for Bitcoin through a network of custodians and merchants.

Scalability

Wrapped Bitcoin was designed to aid scalability between Bitcoin and Ethereum networks. WBTC tokens are protected by the core blockchain they run on, Ethereum, while the Proof-of-Work function in Ethash secures Ethereum.

Wrapped Bitcoin (WBTC) Current Price

Wrapped Bitcoin is currently worth $63,669.12 USD. WBTC has moved 4.85% in the last 24 hours with a trading volume of $427,251,380. Wrapped Bitcoin is currently ranked 202 amongst all cryptocurrencies with a market capitalization of $9,893,145,079 USD.

Utilizing the relative strength index (RSI), moving weighted average (MWA), williams fractal (fractal) and moving average convergence divergence (MACD) from the chart above, we can determine price patterns for Wrapped Bitcoin (WBTC) to decide wether it is going to have a bullish or bearish year.

Wrapped Bitcoin (WBTC) Price Predictions

In this section, we will analyze the price forecast of WBTC with technical analysis to project the expected maximum value and average price in the following years.

Our price prediction forecasts use real-time Wrapped Bitcoin (WBTC) market data and all data is updated live on our website. This allows us to provide dynamic price predictions based on current market activity.

Wrapped Bitcoin (WBTC) Price Prediction 2023

Wrapped Bitcoin, according to some, is one of the most amazing cryptocurrencies to rise this year (WBTC). The WBTC price forecast for 2023 anticipates a significant increase in the year’s second half, possibly reaching $95,503.67.

As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $89,136.76 in price is quite ambitious, but it is feasible in the near future given anticipated collaborations and advancements. WBTC is expected to have a minimum value of $76,402.94.

Wrapped Bitcoin (WBTC) Price Prediction 2024

In 2024, Wrapped Bitcoin WBTC price prediction has much room for expansion. As a result of the potential announcements of numerous new partnerships and initiatives, we anticipate that the price of WBTC will soon surpass $159,172.79. However, we should wait to see if the WBTC’s relative strength index comes out of the oversold zone before placing any bullish bets.

Considering the market volatility, WBTC will trade with a minimum trading price of $127,338.23 and an average trading price of $140,072.06.

Wrapped Bitcoin (WBTC) Price Prediction 2025

If the upward trend continues until 2025, it could reach $222,841.91 and WBTC may profit. If the market experiences a decline, the goal may not be met. WBTC is expected to trade at an average price of $203,741.17 and a low of $191,007.35 in 2025.

Wrapped Bitcoin (WBTC) Price Prediction 2026

If Wrapped Bitcoin successfully boosts market sentiment among cryptocurrency enthusiasts, the WBTC coin price could remain stable for the next five years.

According to our projections, WBTC will be green in 2026. The WBTC is expected to reach and surpass its all-time high in 2026. In 2026, the virtual currency will be worth $286,511.02, with a minimum price of $254,676.46 and an average price of $267,410.29.

Wrapped Bitcoin (WBTC) Price Prediction 2027

After some extensive forecasting and technical analysis, we estimate the WBTC price is expected to cross an average price level of $331,079.40 by 2027, with a minimum price of $318,345.58 expected before the end of the year. Furthermore, WBTC has a maximum price value of $350,180.14.

Wrapped Bitcoin (WBTC) Price Prediction 2028

Due to the future partnerships that are expected to happen by 2028, we are expecting that a bullish trend will continue, bringing the average price to around $394,748.52. If WBTC manages to break the resistant level in 2028, we could see a maximum price of $413,849.26, failing to gather the support WBTC needs by 2028 could result in a low of $382,014.70.

Wrapped Bitcoin (WBTC) Price Prediction 2029

While WBTC is striving towards interoperability between networks to hasten interaction, the bullish trend from the previous year is expected to continue. So the minimum trade price has been placed at $445,683.81 and a yearly price close above $477,518.37 in 2029.

Wrapped Bitcoin (WBTC) Price Prediction 2030

By 2030, Wrapped Bitcoin will finally surpass its previous ATH values and record new price levels. The minimum price could be $509,352.93 and potentially reach a maximum price value of $541,187.49, averaging out at $522,086.75.

Wrapped Bitcoin (WBTC) Price Prediction 2031

The cryptocurrency market is known to be highly volatile which is one of the many reasons why price forecasting is a difficult task. BitcoinWisdom tries our best to forecast future price points with precision, however all predictions should not be taken as financial advice and you should DYOR (do your own research). In 2031, we are expecting cryptocurrency to have gained adoption across many sectors. As such, the maximum WBTC price in 2031 is projected to be $623,957.34 in the event of a bull run, with an average price level of $598,489.69.

Conclusion

WBTC is threaded to the Bitcoin, showing that most of the price action on BTC directly affects its price. Cryptocurrency investment is a highly risky business, so endeavor to do your own research as this should not be considered investment advice to maximize the potential of a profitable investment.

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