Details about Wrapped XMR by BTSE cryptocurrency
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https://blog.btse.com/introducing-wrapped-monero/
@btsecom
Wrapped XMR by BTSE price charts
WXMR exchanges
Wrapped XMR by BTSE, the crypto
Wrapped XMR by BTSE (WXMR) is a token that represents Monero (XMR) on the Ethereum blockchain. WXMR has the same value as XMR and can be traded on Ethereum-based decentralized exchanges (DEXs) and used in decentralized finance (DeFi) applications.
The point
The main point of Wrapped XMR by BTSE (WXMR) is to allow Monero (XMR) holders to access Ethereum-based DeFi applications and DEXs without having to exchange their XMR for Ethereum (ETH) first. It also opens up the possibility for XMR to be used as collateral in DeFi lending protocols that are built on Ethereum.
The problem
One of the main problems that Wrapped XMR by BTSE (WXMR) tries to solve is the lack of interoperability between different blockchain networks. XMR is a privacy-focused cryptocurrency that runs on its own blockchain, which makes it difficult for XMR holders to access DeFi applications and DEXs that are built on Ethereum. By wrapping XMR on the Ethereum blockchain, WXMR makes it easier for XMR holders to access these applications and participate in the wider DeFi ecosystem.
Compare WXMR and BTC performance
| Timeframe | WXMR | BTC |
|---|---|---|
| 1h change | 0 % | -0.0570393 % |
| 24h change | 0 % | 1.09266 % |
| 7 day change | 0 % | 4.45509 % |
| 14 day change | -0.12 % | -5.14018 % |
| 30 day change | 0 % | 5.55638 % |
| 200 day change | 0 % | 138.981 % |
| Year change | -25.71 % | 150.88 % |