BitGo’s WBTC Retains Over 65% Market Dominance Despite Criticism of Custody Model: Report
Wrapped Bitcoin (WBTC), a wrapped version of Bitcoin developed by BitGo, Kyber Network, and Ren, continues to dominate the tokenized BTC market despite criticism around the project, according to Binance Research’s latest monthly report.
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BitGo's Wrapped Bitcoin (WBTC) continues to demonstrate impressive resilience in the cryptocurrency market, maintaining over 65% market dominance despite facing criticism regarding its custody model. This dominance is particularly notable given the recent controversies surrounding BitGo's partnerships, including a contentious collaboration with Justin Sun aimed at expanding WBTC's jurisdiction .
https://twitter.com/johnmorganFL/status/1842939181414375882
BitGo's WBTC remains a significant force in the cryptocurrency landscape, showcasing strong transaction volumes and market presence despite external criticisms. As the market adapts to changing dynamics, WBTC's performance will be closely watched by investors and industry participants alike
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