24h Change+0.2%
All Time HighOct 6, 2025$125,932
All Time LowApr 2, 2019$3,139
Market Cap$7.383b
Fully Diluted Valuation$7.383b
Circ. Supply116,132 WBTC
CEX Volume$11.97m
DEX Volume$72.09m
How much debt can be issued against WBTC as collateral across lending protocols.
Maximum possible exposure to WBTC
$3b
$560.97m (max additional borrows against WBTC) + $2.439b (bad debt if WBTC was hacked now)
Aave V3
$1.133b at-risk exposure = $781.29m bad debt if hacked + $352.2m additional borrowable against WBTC
Compound V3
$319.92m at-risk exposure = $208.65m bad debt if hacked + $111.27m additional borrowable against WBTC
Fluid
$61.62m at-risk exposure = $27.62m bad debt if hacked + $34m additional borrowable against WBTC
SparkLend
$62.93m at-risk exposure = $30.3m bad debt if hacked + $32.63m additional borrowable against WBTC
Morpho V1
$227.52m at-risk exposure = $202.17m bad debt if hacked + $25.35m additional borrowable against WBTC
Euler V2
$6.16m at-risk exposure = $649,387 bad debt if hacked + $5.51m additional borrowable against WBTC
Maple
$1.186b at-risk exposure = $1.186b bad debt if hacked + $0 additional borrowable against WBTC
Sky Lending
$2.16m at-risk exposure = $2.16m bad debt if hacked + $0 additional borrowable against WBTC
Showing collateral exposure for WBTC on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for WBTC as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $304.96m | $702.37m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $94.71m | $194.41m | ||
WBTC0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f | $32.64m | $57.06m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $32.63m | $30.3m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $21.62m | $189.9m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $20.71m | $23.15m | ||
WBTC0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f | $14.19m | $10m | ||
WBTC0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f | $12.45m | $3.88m | ||
WBTC0x1bfd67037b42cf73acf2047067bd4f2c47d9bfd6 | $7.46m | $21.86m | ||
WBTC0x68f180fcce6836688e9084f035309e29bf0a2095 | $7.13m | — |
Risk-management actions published about WBTC by tracked risk managers and governance contributors, newest first.
The Compound DAO is seeking professional managers to deploy its treasury reserves, including this asset, into active yield strategies. This initiative aims to move idle capital into more productive, risk-managed investments to generate higher returns for the DAO.
The specialized 'e-mode' for BTC-correlated assets is being deprecated, reducing capital efficiency for leveraged positions. The price oracle is also being updated to include a 'Killswitch' safety feature.
Proposes adding WBTC as an approved collateral asset for Arkis infrastructure credit lines, citing high user demand and its historical data showing relatively low volatility and fundamental risk.
A kill-switch oracle is being added to automatically freeze all borrowing if the price of WBTC falls more than 5% below the price of BTC. This is a proactive safety measure to protect the protocol from a potential WBTC de-peg event.
Parameter updates supported for WBTC in SparkLend spells, including lending-market-model-derived CRRs in the new Grove × Steakhouse RLUSD Morpho Vault V2. Enables expanded use as collateral against RLUSD with risk-adjusted capital requirements.
WBTC markets are adopting a MetaOracle using SVR BTC/USD primary with WBTC/BTC × BTC/USD Chainlink backup, enhancing safety through deviation-based switching and reducing oracle failure risks.
WBTC is designated as a key collateral asset with strong demand, so it remains unaffected by cap reductions to preserve borrowing activity without introducing unnecessary risk adjustments.
Reserves from deprecated v2 markets and above VaR buffer in Ethereum v3 are being withdrawn for treasury consolidation to fund V4 and management programs; as a volatile asset, the pulled amount faces price risk during planned conversion to stablecoins via TWAP to minimize market impact.
Isolated WBTC markets on Monad are being handed over to curator K3 for continued management, as the DAO sunsets direct operations to minimize conflicts of interest and refocus on infrastructure.
Recent risk review determines WBTC fits Spark’s risk tolerance with an acceptable safety profile, allowing it to be onboarded as collateral to expand borrower opportunities and increase revenue.
An is required to view token usage.
An is required to view token liquidations.
Showing 10 of 811 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDC-CBBTCCL2000 - 0.034% | $2.84m | 322% | 303% | 421% | |||||
| open in new tabUSDC-CBBTCCL1 - 0.0109% | $781,150 | 3329% | 9609% | ||||||
| open in new tabUP-CBBTCCL100 - 1% | $663,135 | 275% | 131% | ||||||
| open in new tabSOL-CBBTCCL10 - 0.035% | $282,694 | 321% | 550% | ||||||
| open in new tabWETH-CBBTCCL1 - 0.0085% | $175,294 | 2855% | 2825% | ||||||
| open in new tabETH-WBTC0.10% fee | CL range 3.26% | $166,912 | 268% | 21.39% | 157% | |||||
| open in new tabWBTC-USDTCL - 10 | 🪂 | $76,371 | 7394% | 0% | 7394% | 17905% | |||
| open in new tabEBTC-CBBTC | $62,348 | 3433% | 3408% | ||||||
| open in new tabUSDC-CBBTCCL1 - 0.01% | $30,514 | 2315% | 12928% | ||||||
| open in new tabWBTC-WETHCL - 10 | 🪂 | $21,204 | 7164% | 0% | 7164% | 3711% |
Showing 10 of 17712 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWBTC âžž WETH | $93.07m | 28.08% | 28.08% | 0% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž WSTETH | $71.5m | 28.08% | 28.08% | 0% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž WETH | $2.85m | 28.20% | 28.08% | 0.17% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž CDCBTC | $2.18m | 28.24% | 28.08% | 0.22% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž CDCETH | $684,967 | 28.29% | 28.08% | 0.30% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž USDSUI | $332,521 | 28.79% | 28.08% | 1.01% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž ZWBTC | $80,826 | 29.64% | 28.08% | 2.22% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž WBTC.E | $11,560 | 29.34% | 28.08% | 1.80% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž MOVE | $5,484 | 37.49% | 28.08% | 13.44% | 70% | $24,552 | $24,552 | ||
| open in new tabWBTC âžž USDCX | $4,592 | 35.23% | 28.08% | 10.21% | 70% | $24,552 | $24,552 |
