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(P1) Stablecoin issuer Circle announced its plan to launch cirBTC, a wrapped Bitcoin token that will be backed 1:1 by Bitcoin, aiming to provide a new regulated alternative in the market. (P2) "We are excited to announce the future launch of cirBTC, a wrapped Bitcoin token that will be backed 1:1 by Bitcoin with reserves designed to be independently verifiable on-chain," a Circle spokesperson said. (P3) The introduction of cirBTC could challenge the dominance of existing wrapped Bitcoin tokens like WBTC, which currently holds a significant market share. The on-chain verifiable reserves of cirBTC are a direct response to the market's demand for greater transparency in the backing of wrapped assets. (P4) The launch of cirBTC is expected to enhance the integration of Bitcoin into various smart contract ecosystems, potentially leading to significant shifts in liquidity across decentralized finance (DeFi) protocols. The move pits Circle, a major regulated issuer, against established players in the wrapped Bitcoin space. This article is for informational purposes only and does not constitute investment advice.
Whale Sells 125.9 WBTC for $8.9 Million An on-chain transaction shows a prominent crypto whale sold 125.9 Wrapped Bitcoin (WBTC) for approximately $8.9 million, realizing a profit of around $200,000. The trade, flagged by on-chain analyst @EmberCN, represents a successful short-term position in one of the market's largest Bitcoin-pegged assets. While the transaction is significant in scale for a single trader, its direct impact on the broader market is expected to be limited unless it triggers wider selling from other large holders interpreting the move as a local price peak. Trader Turns Capital from $8.1M to $8.9M The profitable WBTC sale was the culmination of a multi-step trading strategy executed with precision. The whale had acquired the 125.9 WBTC on March 3, 2026, just three days prior to the sale. This purchase was funded with proceeds from a previous profitable trade in XAUt, a gold-backed token. This sequence demonstrates a clear pattern of successful capital rotation, methodically growing a starting capital base of $8.1 million to the current $8.9 million through a series of well-timed trades.
Hacker Swaps 3003 ETH for 87 WBTC On February 21, 2026, an address identified as belonging to the Infini hacker executed a significant on-chain transaction, according to monitoring service Onchain Lens. The wallet swapped 3003 ETH for 87 Wrapped Bitcoin (WBTC), consolidating the stolen assets into a Bitcoin-equivalent token on the Ethereum network. This action marks a renewed effort by the hacker to launder funds from the original exploit and convert them into a different asset class, potentially preparing for liquidation. Illicit Funds Moved to New Wallet to Obscure Trail Immediately following the swap, the hacker transferred the entire 87 WBTC balance to a newly created wallet address. This technique is a standard practice in money laundering to break the on-chain traceability of funds. By moving the assets to a fresh wallet with no prior history, the actor makes it more difficult for blockchain investigators and authorities to follow the money trail. This step suggests a deliberate strategy to distance the funds from their illicit origin before attempting to cash out through decentralized protocols or centralized exchanges that may have weaker compliance controls.
New Wallet Offloads $58.53M in Wrapped Bitcoin On February 19, a new wallet address, identified as 0x44f…8C91A, executed a substantial on-chain sale of 886.31 Wrapped Bitcoin (WBTC) valued at $58.53 million. The large-scale transaction was completed within a concentrated five-hour window, applying immediate selling pressure to the market. On-chain analysis reveals the funds originated from a cross-chain transfer via the Defiway platform six months prior and were aggregated from dozens of separate addresses before the sale, indicating a calculated move by a significant market participant. Large On-Chain Sale Fuels Concerns of Market Correction The $58.5 million liquidation introduces a significant supply of WBTC to the market, an event often interpreted by traders as a bearish signal. Such a large capital outflow can suggest that a major holder is taking profits, potentially anticipating a local price peak or a broader market downturn. The transaction increases the risk of short-term price declines and heightened volatility for both WBTC and its underlying asset, Bitcoin, as the market absorbs the sudden influx of sell-side liquidity.
Wrapped Bitcoin (WBTC) current price is $68521.91, down 0.52% today.
Wrapped Bitcoin (WBTC) daily trading volume is $175.0M
Wrapped Bitcoin (WBTC) current market cap is $8.1B
Wrapped Bitcoin (WBTC) current circulating supply is 119.1K
Wrapped Bitcoin (WBTC) fully diluted market cap (FDV) is $8.1B