Following the historical and famous Bitcoin halving event, the number of Bitcoin tokenized on the Ethereum network has been on the rise, however, the growth seen in the number of Bitcoin on Ethereum network in the past one month is quite remarkable, data from BTC on Ethereum has said.
About 53 million BTCs have been tokenized on the Ethereum network since the start of July, considering that the tokenized Bitcoin on Ethereum network has clinched 15,551.39 BTCs, compared to the 5837 BTCs recorded at the end of last month.
According to BTC on Ethereum, the number of Bitcoin tokenized on Ethereum network has clinched 15,551.39 BTCs, amounting to $142,550,598.
The tokenized Bitcoin on the Ethereum network reached this point after rising by over 175% in the last one month.
On June 18, the number of tokenized BTCs on Ethereum was around 5,837, but for the growth that pushed it to its present position. At the start of the year, there were only 1,134 BTCs tokenized on the Ethereum network.
Also, the number of tokenized WBTC in Ethereum witnessed the same rise, surging from 4,096 to 11,655 to record over 200% growth. renBTC and sBTC on Ethereum have also been on the rise, however, HBTC and imBTC did not follow the same trend.
About $60 Million in Bitcoin Moved to Ethereum in June
Data from Dune Analytics, reveals that about $60 million in Bitcoin was moved to Ethereum in the month of June, and Wrapped Bitcoin (WBTC) was responsible for the highest figure, representing about 75% of the growth.
About 4,800 BTC in WBTC, the longest living tokenized bitcoin on the Ethereum network, was moved to the network last month.
This can be traced to the increase in the demand and usage of Bitcoin in various DeFis as the interest rises.