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Merchants and custodians facilitate token minting and burning, with custodians storing BTC and performing transactions on Ethereum.Because of the 1:1 mapping with bitcoin, the WBTC price tends to track that of the larger cryptocurrency.

It touched an all-time low of $3,139.17 on April 2, 2019, before climbing to a record-high price of $66,109.97 on Oct.

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