Token investment platform CoinList minted a total of $57.1 million worth of wrapped bitcoin (4,997 WBTC) in back-to-back mints for its customers Wednesday, setting an all-time record for the most bitcoins wrapped by one merchant in a single day.
- The previous daily record was set on Sept. 18 when Alameda Research minted $44.7 million (4,093 WBTC) in three separate mints, according to transaction data analyzed by CoinDesk.
- Matthieu Jobbé-Duval, head of financial products at CoinList, told CoinDesk the firm is seeing a strong but “more balanced flow” in demand for WBTC after “a steady increase” in customer demand throughout the summer during the heights of the recent decentralized finance (DeFi) craze.
- Wednesday’s eye-popping daily minting activity is sort of business as usual for the San Francisco-based company. Responsible for over 30% of all WBTC ever minted, CoinList continues to be one of the largest gateways to using bitcoin on Ethereum.
- Approximately 105,132 WBTC are in circulation, according to the project’s website, representing more than 17,000% growth year to date.
The leader in news and information on cryptocurrency, digital assets and the future of money, 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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.