How are bitcoins doing on Ethereum? (as of Jan 20th 2021)
https://scout.cool/scout/mainnet/dashboards/btc-on-ethereum
As of now, there are 111672 WBTCs (Bitgo), 17905 hBTCs (Huobi), 14618 renBTCs (ren protocol), 1991 sBTCs (Synthetix), 1710 tBTCs (Keep) and 207 pBTCs (imToken) on Ethereum.
In this article, we will check on the top 3 bitcoins on Ethereum. The data sources which these charts are built on are explained here.
1. Adoptions:
Daily active addresses of WBTC. Total are 22914 addresses. (demo)
Daily active addresses of renBTC. Total are 2070 addresses. (demo)
Daily active addresses of hBTC. Total are 654 addresses. (demo)
An address is considered as active if it has received or sent any bitcoins. The light green line is the total unique addresses. The dark blue is the number of new unique addresses. The orange is the bitcoin price. The time is in UTC.
A few observations:
The fluctuation of bitcoin price seems to have no major impact to the DAU which have been trending up since August. WBTC has the most momentum.
The spikes in the total DAU almost have no correlations with the price fluctuations.
The new addresses have been increasing at a steady pace. No clear sign of acceleration yet.
2. Distribution:
Let's breakdown the accounts by the number of tokens they hold. Based on below graphs, the distributions have been very uneven.
WBTC (demo)
renBTC (demo)
hBTC (demo)
3. Who are the top holders:
We are also able to identify most of the top holding addresses. Most of them are smart contracts which act as liquidity pools on Ethereum.
Top WBTC Holders (demo)
Top renBTC Holders (demo)
Top hBTC Holders (demo)
To sum it up, we are still in a very early days of adding bitcoins to Ethereum. The number of bitcoins and amount of activities are too small to move the price. This might change in the future and we will keep an eye on it.
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