About Wrapped Centrifuge
Wrapped Centrifuge (WCFG) is an Ethereum token that’s intended to represent Centrifuge (CFG) on the Ethereum blockchain. WCFG is not CFG, but rather a separate ERC-20 token that’s designed to track CFG’s price. CFG is the native asset of the Polkadot-based Centrifuge Chain and can be used for staking and on-chain governance.
Buy Wrapped Centrifuge
Trading Insights
Buyer Ratio
Traders
85
112.5%
Buyers
61
190.48%
Sellers
27
35%
Searched
32
Market Stats
Market Cap
£67.29M
-13.67%
FDV
£67.29M
Circ. Supply
387M WCFG
Max Supply
387M WCFG
Total Supply
387M WCFG
Diluted Valuation
£67.58M
Performance
Popularity
#9,412
Dominance
0%
Volume (24H)
£145.96K
298.3%
Volume (7D)
£1.11M
Volume (30D)
£4.35M
All time high
£1.89
Price Change (1Y)
-34.17%
Past performance is not a reliable indicator of future results. Learn more about asset risks.
Investment risk
Baseline risk: All crypto-assets are risky, regardless of the type of token you hold. Here are some 'baseline' risks to be aware of before deciding to invest.
Investment risk: The performance of most crypto-assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto-assets.
Lack of protections: Crypto-assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto-asset investments.
Crypto-assets are complex: It may be difficult to understand the risks associated with a crypto-asset investment. Do your own research and if something sounds too good to be true, it probably is.
Don't put all your eggs in one basket: Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments such as crypto-assets.
Wrapped tokens: Wrapped crypto-assets (e.g. cbETH, WBTC) (often referred to as 'wrapped tokens') are tokenised representations of other crypto-assets. They are typically created to facilitate compatibility and interaction across different blockchain protocols.
Smart contract risk: Wrapped tokens rely on smart contracts to ensure their value remains pegged to the underlying asset. These contracts could have vulnerabilities or flaws that can be exploited, potentially leading to a loss of funds.
Collateral risk: The value of a wrapped token is typically backed by an equivalent amount of the underlying asset. If the mechanisms ensuring this collateralization fail, the wrapped token's value might not be preserved.
Custodial risk: The underlying assets for wrapped tokens may be held in custody by a third party. If this party becomes insolvent, mismanages the assets, or is subjected to fraud or hacking, the value of the wrapped token might be jeopardized.
Bridging risk: Wrapped tokens are often used to bridge assets between different blockchain ecosystems. The integration layers that facilitate these bridges might suffer from technical issues, hampering the ability to transfer or utilize the tokens as intended.
Pricing disparity: In certain situations, the price of the wrapped asset and its underlying asset might diverge due to market inefficiencies or liquidity issues.
Additional details
Recent trends
The price of Wrapped Centrifuge has increased by 1.51% in the last hour and decreased by 14.49% in the past 24 hours. Wrapped Centrifuge’s price has also fallen by 16.01% in the past week. The current price is £0.17 per WCFG with a 24-hour trading volume of £145.96K. Currently, Wrapped Centrifuge is valued at 90.75% below its all time high of £1.89. This all-time high was the highest price paid for Wrapped Centrifuge since its launch.
The current circulating supply of Wrapped Centrifuge is 386,631,937.084 WCFG which means that Wrapped Centrifuge has as total market cap of £67,294,859.19.
Market details
WCFG vs markets
↘ 63.02%
WCFG vs BTC
↘ 62.99%
WCFG vs ETH
↘ 59.67%
Tags
defi
rehypothecated-crypto
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0xc221b7E65FfC80DE234bbB6667aBDd46593D34F0 |
Price history
Time | Price | Change |
|---|---|---|
Today | £0.17 | ↘ 14.49% |
1 Day | £0.20 | ↘ 14.49% |
1 Week | £0.21 | ↘ 16.01% |
1 Month | £0.21 | ↘ 18.76% |
1 Year | £0.27 | ↘ 34.17% |
Past performance is not a reliable indicator of future results. Learn more about asset risks.
FAQ
Wrapped Centrifuge (WCFG) is a distinctive digital asset that operates on the Ethereum platform. It seeks to bring real-world assets on-chain. WCFG is the digital representation of the Centrifuge token, which is utilized for protocol governance and to contribute to the future development of the Centrifuge platform. The platform seeks to reduce the complexity of traditional financial systems.
Wrapped Centrifuge operates by tokenizing real-world assets and bringing them on-chain. This process involves the use of Centrifuge's decentralized infrastructure, which seeks to reduce the complexity of traditional financial systems. The platform enables issuers to finance their real-world assets by accessing affordable capital without the need for banks or other intermediaries. Institutions and DeFi protocols can lend and gain access to a more diversified and stable yield backed by productive assets from the real world. Additionally, CFG token holders can participate in protocol governance, contributing to the future development of Centrifuge.
Wrapped Centrifuge has a broad range of potential use cases, primarily focusing on the tokenization of real-world assets. It seeks to provide a platform for on-chain credit, offering transparency, affordable capital, equal and open participation, and access to DeFi liquidity. It also aims to diversify stablecoin and treasury collateral with yield correlated to real-world assets, with the intention of stabilizing long-term value and protocol health. Furthermore, it provides a platform for users to participate in Centrifuge's pools of real-world assets, offering a unique opportunity for diversification and potential yield.
The Centrifuge platform, from which Wrapped Centrifuge (WCFG) originates, was developed with the intention of bringing real-world assets on-chain and reducing the conplexity of traditional financial systems.The platform has been actively involved in various initiatives, including the launch of Centrifuge Prime, a platform for onboarding and scaling a portfolio of real-world assets. It has also been part of various collaborations and partnerships, with the aim of promoting the tokenization of real-world assets. The Wrapped Centrifuge token represents the Centrifuge token on the Ethereum platform, further expanding the reach and accessibility of the Centrifuge platform.
We update our Wrapped Centrifuge to GBP currency in real-time. Get the live price of Wrapped Centrifuge on Coinbase.
The current market cap of Wrapped Centrifuge is £67.29M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Wrapped Centrifuge is £1.89. This all-time high is highest price paid for Wrapped Centrifuge since it was launched.
Over the last 24 hours, the trading volume of Wrapped Centrifuge is £145.96K.
Assets that have a similar market cap to Wrapped Centrifuge include Amnis Staked Aptos coin, Venus USDC, Function, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Wrapped Centrifuge is 387 million.
Wrapped Centrifuge ranks 215 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 72% of Coinbase users are buying Wrapped Centrifuge. In other words, 72% of Coinbase customers have increased their net position in Wrapped Centrifuge over the past 24 hours through trading.
Yes, Wrapped Centrifuge is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Wrapped Centrifuge guide.
Social stats
Popularity in posts
#2807
Contributors
14
Posts
57
% About Wrapped Centrifuge
0.005%
Hold times
0 days
X (Twitter)
7.36% bullish
Sentiment
2.9 ★
Highlights
14 unique individuals are talking about Wrapped Centrifuge and it is ranked #2,807 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Wrapped Centrifuge has an average sentiment score of 57 out of 5. Finally, Wrapped Centrifuge is becoming less newsworthy, with 0 news articles published about Wrapped Centrifuge.
On Twitter, people are mostly neutral about Wrapped Centrifuge. There were 14.96% of tweets with bullish sentiment compared to 103.15% of tweets with a bearish sentiment about Wrapped Centrifuge. 85.04% of tweets were neutral about Wrapped Centrifuge. These sentiments are based on 57 tweets.
On Reddit, Wrapped Centrifuge was mentioned in 0 Reddit posts and there were 0 comments about Wrapped Centrifuge. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.