The supply of WBTC has decreased by 1,600 since the announcement of self-custody
Tom Wan, a strategy analyst at 21.co, stated on platform X that since the announcement of self-hosting, the supply of WBTC has decreased by 1,600 coins ($96 million). Institutions such as Galaxy, FalconX, Tokka Labs, Coinlist, Abra and Crypto dot com have all redeemed WBTC. This indicates that institutions are looking for a more reliable BTC wrapper.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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