Bitcoin trading volumes are rising strongly, how is that?

Whalestats data showed today, Monday, that some large Bitcoin traders are turning to DeFi to maintain their investment returns, by resorting to buying Wrapped Bitcoin (WBTC), a type of Ethereum-based Bitcoin used to invest and access DeFi platforms.

The data showed that recent WBTC purchases by Ethereum whales increased the currency’s trading volume over the past 24 hours by a whopping 148%, and the encapsulated Bitcoin reached the list of the most used smart contracts by Ethereum whales.

Also, the data tracked that USDT and Ethereum remain the largest cryptocurrencies used in decentralized finance by whales, with the largest Ethereum wallets currently holding over $615 million of WBTC encapsulated Bitcoin. Bitcoin envelopes account for 7.18% of the total holdings of the top 100 Ethereum whales.

During today's trading, the Bitcoin currency decreased by 0.22% and recorded about $40,125.80, with a daily trading volume of $30,624,028,552, bringing the Bitcoin capital value to about $763,003,140,511.

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