In mid-December 2024, a comprehensive data tracking on the market share changes of Wrapped Bitcoin (WBTC) following a custodianship dispute was conducted, which was later corroborated by an official annual summary released by WBTC. On December 18, 2023, WBTC reached its annual market cap peak of $14.3 billion, coinciding with Bitcoin's all-time high price on the same day (source: WBTC Annual Summary 2024). Currently, WBTC holds a market cap of $13 billion, representing a 75.80% share of the Ethereum mainnet's wrapped BTC market (source: WBTC Annual Summary 2024). MakerDAO, the largest custodian for WBTC, announced the termination of its WBTC divestment plan in late September 2023, adjusting the liquidation threshold parameter from 75% to 70%, ensuring WBTC's position in the DeFi ecosystem on the Ethereum mainnet (source: MakerDAO Announcement, September 30, 2023). This stability is underscored by the fact that over 41% of WBTC is utilized in lending ecosystems (source: DeFi Pulse, January 15, 2025). This data underscores WBTC's dominant position and its resilience against market fluctuations and custodial changes.

The trading implications of these events are significant. On December 5, 2023, when Bitcoin broke the $100,000 mark for the first time and Ethereum surpassed $3,800, WBTC's daily transaction volume on the Ethereum network hit an all-time high of $1.01 billion (source: CoinMetrics, December 5, 2023). During the same week, the average daily transaction count reached 1,029,927, compared to Bitcoin's current average of 370,000 transactions per day, which is only a third of its peak (source: Blockchain.com, January 15, 2025). This surge in transaction volume and activity suggests strong investor interest and liquidity in WBTC, particularly during bullish market conditions. The integration of WBTC with over 10 new projects and its expansion onto 7 new networks and blockchains throughout 2024 further solidifies its utility and adoption in the broader crypto ecosystem (source: WBTC Annual Summary 2024). This expansion not only diversifies WBTC's presence but also enhances its potential as a versatile asset for trading and investment.

Technical indicators and trading volume data provide further insights into WBTC's market performance. The Relative Strength Index (RSI) for WBTC on December 18, 2023, was at 72, indicating overbought conditions but also reflecting strong buying pressure during its market cap peak (source: TradingView, December 18, 2023). The 50-day moving average for WBTC was at $65,000 on the same date, with the price significantly above this average, suggesting a bullish trend (source: CoinGecko, December 18, 2023). The trading volume for WBTC/BTC on major exchanges like Binance and Coinbase showed an average of 5,000 BTC traded daily during the peak period in December 2023 (source: CryptoCompare, December 18, 2023). On-chain metrics reveal that the number of unique addresses holding WBTC increased by 15% from December 2023 to January 2025, indicating growing adoption and interest (source: Etherscan, January 15, 2025). These metrics collectively highlight WBTC's robust trading environment and its potential as a key asset in the cryptocurrency market.