Wrapped Bitcoin was launched in 2019 to give Bitcoin investors an option to use the asset in decentralized finance applications.
The price of Wrapped Bitcoin (WBTC) on Binance briefly and rapidly plunged to an all-time low of approximately $5,200 on November 23, 2024, in an apparent flash crash that did not affect the price of the asset on other exchanges.
WBTC began the day trading at normal price levels of around $98K before plummeting due to an electronic error affecting the trading system — the most common cause of flash crashes.
Price rebounded almost immediately, and the daily candle for Wrapped Bitcoin on the Binance exchange closed the day around the $97K price point and is currently trading at normal levels.
