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Wrapped tokens are digital versions of assets like cryptocurrencies and gold on the blockchain, allowing direct and secure trading. More
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Coins Price Market cap 24h 1 Lido Staked Ether stETH $ 3,015.66 $ 26.60B
$ 26.60 billion +3.76% 2 Wrapped BTC WBTC $ 89,151.16 $ 12.24B
$ 12.24 billion +1.75% 3 Wrapped liquid staked Ether 2.0 wstETH $ 3,702.19 $ 11.82B
$ 11.82 billion +3.95% 4 Wrapped eETH weETH $ 3,277.94 $ 9.32B
$ 9.32 billion +3.88% 5 Binance-Peg BSC-USD BSC-USD $ 1.000 $ 8.98B
$ 8.98 billion -0.15% 6 Wrapped Ether WETH $ 3,015.73 $ 8.02B
$ 8.02 billion +3.87% 7 Coinbase Wrapped BTC CBBTC $ 89,339.64 $ 3.75B
$ 3.75 billion +1.76% 8 Ethena Staked USDe sUSDe $ 1.22 $ 3.66B
$ 3.66 billion +0.10% 9 Bitcoin BEP2 BTCB $ 89,339.78 $ 3.50B
$ 3.50 billion +1.61% 10 Jito Staked SOL JITOSOL $ 159.39 $ 1.82B
$ 1.82 billion +2.58% 11 Wrapped BNB WBNB $ 904.85 $ 1.28B
$ 1.28 billion +3.04% 12 Rocket Pool ETH RETH $ 3,479.72 $ 1.25B
$ 1.25 billion +3.50% 13 Lombard Staked Bitcoin LBTC $ 89,468.76 $ 946.20M
$ 946.20 million +1.68% 14 tBTC v2 TBTC $ 88,891.32 $ 525.60M
$ 525.60 million +1.27% 15 Binance-Peg XRP Token XRP $ 1.92 $ 471.24M
$ 471.24 million +1.60% 16 Marinade staked SOL MSOL $ 172.01 $ 435.31M
$ 435.31 million +2.72% 17 Coinbase Wrapped Staked ETH CBETH $ 3,383.77 $ 425.47M
$ 425.47 million +4.00% 18 Bitcoin Avalanche Bridged BTC.b $ 89,360.67 $ 343.49M
$ 343.49 million +1.68% 19 Wrapped Solana SOL $ 127.09 $ 237.55M
$ 237.55 million +2.72% 20 Wrapped AVAX WAVAX $ 12.18 $ 201.60M
$ 201.60 million +4.21% 21 Wrapped Centrifuge CFG $ 0.119 $ 68.48M
$ 68.48 million +4.25% 22 Coinbase Wrapped XRP CBXRP $ 1.92 $ 40.94M
$ 40.94 million +1.68% 23 Wrapped Matic WMATIC $ 0.120 $ 17.10M
$ 17.10 million +2.63% 24 Axelar Wrapped USDC AXLUSDC $ 1.00 $ 2.51M
$ 2.51 million -0.17% 25 Wrapped NCG WNCG $ 0.00754 $ 2.42M
$ 2.42 million -1.25%
The coins below are ranked lower due to missing data.
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26 Wrapped TRON WTRX $ 0.292 $ 3.74B
$ 3.74 billion -0.68% 27 Binance Staked SOL BNSOL $ 139.22 $ 1.33B
$ 1.33 billion +2.82% 28 Mantle Staked Ether METH $ 3,279.75 $ 698.32M
$ 698.32 million +4.11% 29 Jupiter Staked SOL JUPSOL $ 148.30 $ 604.32M
$ 604.32 million +2.93% 30 BybitSOL BBSOL $ 143.89 $ 229.20M
$ 229.20 million +2.76% 31 ckBTC ckBTC $ 89,334.57 $ 42.17M
$ 42.17 million +1.30% 32 Wrapped NXM WNXM $ 72.61 $ 35.11M
$ 35.11 million +0.40% 33 Wrapped TAO WTAO $ 228.31 $ 27.04M
$ 27.04 million -1.95% 34 ckETH ckETH $ 3,019.30 $ 1.87M
$ 1.87 million +3.94% 35 ckUSDC CKUSDC $ 0.996 $ 1.83M
$ 1.83 million -0.02% 36 renBTC RENBTC $ 4,462.94 $ 1.36M
$ 1.36 million +5.59% 37 ckOCT CKOCT $ 0.0332 $ 588.00T
$ 588.00 trillion -8.47% 38 Paxos Gold (Gravity Bridge) PAXG.grv $ 5,149.61 $ 46.04T
$ 46.04 trillion +0.68% 39 Wrapped DOGE WDOGE $ 0.149 $ 19.22B
$ 19.22 billion +2.10% 40 Wrapped Binance Beacon ETH WBETH $ 3,285.54 $ 4.60B
$ 4.60 billion +3.81% 41 USDC (BASE) USDC $ 1.00 $ 4.41B
$ 4.41 billion -0.15% 42 Binance-Peg USD Coin (BNB Smart Chain) USDC $ 1.00 $ 1.29B
$ 1.29 billion +0.01% 43 USDC (Avalance) USDC $ 1.00 $ 721.45M
$ 721.45 million -0.16% 44 Wrapped BTC (Wormhole) WBTC $ 89,162.06 $ 356.41M
$ 356.41 million +1.89% 45 Binance Wrapped BTC BBTC $ 89,119.46 $ 258.45M
$ 258.45 million +1.59% 46 Gate Wrapped BTC GTBTC $ 89,623.10 $ 206.10M
$ 206.10 million +1.77% 47 Kelp DAO Wrapped rsETH WRSETH $ 3,206.24 $ 100.71M
$ 100.71 million +3.43% 48 TRON peg TRX $ 0.291 $ 86.99M
$ 86.99 million -1.33% 49 Binance-Peg Bitcoin Cash Token BCH $ 592.70 $ 57.20M
$ 57.20 million +0.18% 50 ETH by Sui Bridge ETH $ 3,015.35 $ 39.90M
$ 39.90 million +3.96%
What is a wrapped token?
A wrapped token is a blockchain-backed IOU that represents—at a 1:1 ratio—an asset living on another chain or outside the crypto ecosystem entirely.
Smart contracts lock the original asset (BTC, ETH, gold, even real-estate) and mint an equivalent ERC-20, BEP-20, SPL, etc. token so it can trade in DeFi, collateralise loans, or be used in dApps while preserving the price of the underlying collateral.
Quick Facts
Purpose: Move non-native or illiquid assets onto faster, programmable chains (mainly Ethereum).
Backing: 1:1 custodial or decentralised vault; auditable on-chain.
Common standards: ERC-20 (WBTC, WETH), BEP-20 (BBTC), SPL (soBTC).
Market size: >$15 B in wrapped BTC alone; >$25 B across all wrapped assets.
Key benefit: Interoperability + composability with DeFi (DEX, lend, derivatives).
Top Wrapped Tokens (Live Examples)
Token
Ticker
Original Asset
Host Chain
2024 TVL / Issuance
Wrapped BTC
WBTC
Bitcoin (BTC)
Ethereum
154 k BTC (~$9 B)
Wrapped ETH
WETH
Ether (ETH)
Ethereum
4.2 M ETH (~$11 B)
renBTC
renBTC
Bitcoin
Ethereum
1.1 k BTC (decreasing)
BBTC
BBTC
Bitcoin
BNB Chain
12 k BTC
soBTC
soBTC
Bitcoin
Solana
2.4 k BTC
Wrapped DOT
WDOT
Polkadot (DOT)
Ethereum
1.8 M DOT
Wrapped AVAX
WAVAX
Avalanche (AVAX)
Ethereum / Avalanche
3.7 M AVAX
How It Works
Send original asset to custodian (BitGo, RenDAO) or smart-contract bridge.
Custody locks the asset in a multi-sig or MPC vault; emits event.
Mint wrapped token on destination chain (e.g. 1 BTC → 1 WBTC).
Use in DeFi – supply to Aave, swap on Uniswap, collateralise on Maker.
Redeem by burning wrapped token; original asset unlocked and returned.
Benefits
DeFi composability – BTC can become collateral for DAI loans or yield farm.
Cross-chain liquidity – move value from slow chains to fast, low-fee L2s.
Fractional access – tokenise $2 k of gold instead of buying a full bar.
24/7 settlement – no T+2 clearing; trades atomic on DEXs.
Transparent reserves – on-chain proof-of-assets; real-time audits.
Risks & Trade-offs
Custodial risk – bridge or multi-sig hack can leave wrapped tokens unbacked (e.g., Ronin, Wormhole exploits).
Centralisation – WBTC custodian BitGo controls keys; regulatory seizure possible.
de-peg events – during high volatility wrapped asset can trade 1–3 % below native (e.g., WBTC vs BTC).
Mint/burn fees – custodian plus gas can outweigh small trades.
Bridge fragmentation – liquidity splits across WBTC, renBTC, tBTC, etc., hurting depth.
Legal uncertainty – wrapped securities or real-estate may breach securities laws.
Final Thoughts
Wrapped tokens are the interoperability layer of DeFi: they let BTC, gold, or even NFTs ride on programmable rails, unlocking yield, leverage, and lightning-fast swaps.
The trade-off is counter-party risk; always check custodian audits, insurance coverage, and bridge decentralisation before parking capital.
If the wrapping process becomes trust-minimised (zk-proof bridges), expect wrapped assets to underpin the next wave of cross-chain finance.
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