eBTC

eBTC is a token within the Echo protocol, a Bitcoin liquidity aggregation and yield infrastructure layer. It is designed for users who hold Bitcoin in various forms — native BTC, wrapped versions such as wBTC or fBTC, or liquid staking tokens such as PumpBTC or LBTC — and want to participate in decentralized finance without converting between incompatible standards. Echo's stated aim is to reduce the fragmentation that arises when Bitcoin liquidity is spread across many formats and networks.

Users deposit Bitcoin-denominated assets of different standards into Echo's aggregation layer and receive a unified BTC representation in return, which can then interact with DeFi applications built on networks including Starknet, Monad, and Bitcoin Layer 2 solutions such as Babylon, BSquared, and Bitlayer. The protocol uses a Proof-of-Reserve mechanism to verify that accepted BTC assets are backed and transparent. No consensus algorithm or block time is recorded for eBTC itself, which is consistent with its nature as a token issued on top of other networks rather than a standalone blockchain.

The data provided does not include a fee stream, fee recipients, or protocol revenue figures for eBTC, so fee-based measures are not available on this page. What is recorded is a circulating supply of 554.4866296852 tokens at a point-in-time price of 80,280 USD, producing a market capitalisation of 44,513,911 USD. The fully diluted valuation-to-market-cap ratio stands at 1.000105 at the same point in time, indicating that virtually all supply is already in circulation, a reading consistent with the supply-issued figure of 100 percent and the supply-pending figure of 0.0 percent.