Coinranking
Wrapped coins
256 coins #19 Page 3
Trending Wrapped coins
| Coins | Live Price | 24h |
|---|
Top Gainers
| Coins | | | |||
|---|---|---|---|---|---|
| |  OmniBridge Bridged Zcash (Solana) ZEC | | +6.54% | ||
| |  Wrapped Centrifuge CFG | | +2.24% | ||
| |  Binance-Peg Cardano Token ADA | | +0.85% | ||
| |  Binance-Peg Litecoin LTC | | +0.69% | ||
| |  Wrapped NXM WNXM | | +0.45% | ||
| All Gainers | |||||
Market Cap
What Are Wrapped Tokens?
Wrapped tokens are crypto tokens that represent another asset on a different blockchain or in a different format. Each one is backed by the original asset, usually one to one. For example, Wrapped BTC lets people use Bitcoin's value on Ethereum. This list ranks wrapped tokens by market cap, with live prices and 24h changes.
Quick Facts
- Meaning: A wrapped token is a "copy" of an asset, backed by the real asset held in reserve.
- Backing: Usually one wrapped token for one original coin.
- Examples: Wrapped BTC (WBTC), Coinbase Wrapped BTC (cbBTC), Wrapped Ether (WETH) and Bitcoin BEP2 (BTCB).
- History: WBTC launched in 2019 as one of the first ways to use Bitcoin on Ethereum.
- Price: A wrapped token should trade close to the price of the asset it tracks.
How Wrapped Tokens Work
A custodian or a smart contract holds the original asset. It then mints the same amount of wrapped tokens on another chain. This is called wrapping. When you want the original back, you return the wrapped tokens, they are burned, and the asset is released. This is called unwrapping. Bridges often handle this process when moving BTC or other coins between chains.
Types of Wrapped Tokens
- Cross-chain wrapped coins: Coins moved to another blockchain, like WBTC and cbBTC for Bitcoin on Ethereum and other networks.
- Standard wrappers: WETH turns ETH into an ERC-20 token, so it works with the same apps as other tokens.
- Liquid staking tokens: Tokens like stETH and wstETH stand for staked ETH. Wrapped versions such as wstETH make them easier to use in DeFi.
- Pegged tokens: Exchange-issued versions of coins on their own chains, like Binance-Peg tokens on BNB Chain.
Wrapped vs Native Coins
A native coin lives on its own blockchain, like BTC on Bitcoin. A wrapped coin lives on another chain and depends on the backing staying safe. Wrapped coins add access to more apps, but they add more risk too.
Risks
You trust the custodian or bridge that holds the real asset. If it is hacked or fails, the wrapped token can lose its value. Bridge hacks have caused major losses in crypto. A wrapped token can also trade below its asset for a while during stress.
Related Lists
Frequently Asked Questions
- What are wrapped tokens?
Wrapped tokens are crypto tokens that stand for another asset on a different blockchain or in a different format. They are backed by the original asset, usually one to one. Wrapped BTC, for example, lets people use Bitcoin's value on Ethereum. The list above ranks wrapped tokens by market cap with live prices.
- What is a wrapped token in crypto?
A wrapped token in crypto is a token that copies the value of another coin. A custodian or smart contract locks the original coin and mints the same amount of wrapped tokens. This lets the coin be used on another blockchain or in apps that need a standard token format, such as ERC-20 on Ethereum.
- How do wrapped tokens work?
Wrapped tokens work by locking and minting. The original asset is locked by a custodian or smart contract, and new wrapped tokens are created on another chain. To unwrap, you send the wrapped tokens back. They are burned, and the original asset is released to you. Bridges often handle this for cross-chain transfers.
- What is the best wrapped Bitcoin?
We do not give investment advice, so we cannot name the best wrapped Bitcoin. Well-known options include Wrapped BTC (WBTC), Coinbase Wrapped BTC (cbBTC) and Bitcoin BEP2 (BTCB). Compare who holds the backing, how reserves are shown, which chains each one supports, and the market cap and trading volume shown in the list above.
- Is WETH the same as ETH?
WETH has the same value as ETH, but it is a different token. ETH is the native coin of Ethereum. WETH is ETH wrapped into the ERC-20 token standard, so it works with apps built for ERC-20 tokens. You can swap ETH for WETH and back through the WETH smart contract at any time.
- Are wrapped tokens safe?
Wrapped tokens are only as safe as the custodian or bridge that holds the original asset. If that party is hacked, makes mistakes or fails, the wrapped token can lose value. Bridge hacks have caused large losses in crypto. Check who controls the backing and whether the reserves can be verified before using a wrapped token.