million in July, following June’s record growth.
Tokenized bitcoins allow traders and investors to denominate transactions in bitcoin while using applications built on other blockchains.
"We experienced a dramatic WBTC growth in July, led by our retail users," said Matthieu Jobbé-Duval, head of financial products at CoinList, a token launch and exchange platform that minted 7,079 WBTC in July.
renBTC, the second largest supply of tokenized bitcoin, holds approximately 2,068 BTC.
Tokenizing bitcoins on Ethereum is "the biggest opportunity for decentralized finance's growth today," said Andy Bromberg, president of CoinList in an email to CoinDesk.
Monthly tokenized bitcoin supply growth since January 2020
Source: Dune Analytics, OnChainFX, CoinDesk Research
READ MORE ABOUT...
CoinListwBTCrenBTCTokenized Bitcoin
DISCLOSURE
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.