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Record WBTC Mint Completed by Three Arrows Capital as Demand for Bitcoin on Ethereum Continues to Grow
The Singapore-based firm minted 2,316 WBTC Thursday afternoon.
By Zack Voell
Updated Mar 6, 2023, 3:09 p.m. Published Sep 24, 2020, 5:22 p.m.
Three Arrows Capital just completed the single largest issuance of new wrapped bitcoin tokens by any merchant, minting 2,316 WBTC through BitGo Thursday afternoon.
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- The Singapore-based firm’s mint represents nearly 3% of the current wrapped bitcoin supply, just over 81,000 at last check.
- One week ago, Alameda Research set the previous record for most tokens issued in a single mint with 1,999 WBTC issued.
- Since January, the total supply of wrapped bitcoin has grown by over 13,000% from less than 600 WBTC, according to data from Dune Analytics.
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Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
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