Token launch and exchange platform CoinList has minted 7,029 wrapped Bitcoin (WBTC) on Ethereum (ETH) in July, in what was a highly active month for the network. Bitcoin on Ethereum grew by 70% in July, with over $100 million moved.
WBTC is by far the most popular form of tokenized Bitcoin on Ethereum, accounting for 76% of the total supply with 15,500 tokenized Bitcoins. CoinList has doubled down on this view by helping users to mint over 7,000 WBTC, which is just under half the total supply.
Speaking to CoinDesk, Matthieu Jobbe-Duval, head of financial products at CoinList, said that the dramatic WBTC growth was led by retail users. CoinList president Andy Bromberg said that tokenized Bitcoin is DeFi’s biggest opportunity.
In general, Ethereum network activity has spiked since April 2020, and DeFi has only added fuel to the process. Miners set a record for revenue generation in June.
