DEFI Markets DEX Wrapped Bitcoin DEX Sales on Ethereum
DeFi
The USD volume of wrapped Bitcoin tokens sold through decentralized exchanges on Ethereum Shown here for WBTC.
Why it matters
To measure how actively holders are trading their on-chain Bitcoin exposure back out through Ethereum's DEX markets.
How it is built
Summing the USD notional of all sell-side swap transactions involving wrapped Bitcoin tokens on Ethereum-based DEXs.
What to watch
Elevated sell volume can indicate holders reducing their wrapped Bitcoin exposure or rotating into other Ethereum-based assets.
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