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View ChartWrapped TAO (WTAO) is an ERC-20 token deployed on the Ethereum blockchain that represents a wrapped version of TAO, the native asset of the Bittensor network. Bittensor is a decentralized network that uses blockchain technology to create a marketplace for machine intelligence, where validators query, evaluate, and rank machine learning models, and rewards are distributed between miners and validators under a 50/50 model. Wrapped TAO was created to bring TAO into Ethereum-based protocols and applications, allowing the asset to function in DeFi and other EVM environments while remaining directly linked to the original token. The token is backed one-to-one by TAO from the Bittensor decentralized network and was launched in 2023. WTAO's supply tracks the amount of TAO locked in the bridge, rising and falling as TAO is deposited or redeemed. The 21 million figure is the maximum supply of the underlying TAO asset on the Bittensor network, not a cap on WTAO.
The bridge that issues Wrapped TAO was built by a pseudonymous developer known as CreativeBuilds, independently from those developing the Bittensor network. WTAO itself is a wrapped token; the underlying Bittensor network is developed by the Bittensor team. A DL News report dated February 9, 2024 noted that the bridge issuing the Wrapped TAO token is controlled by a single person, a detail that has raised questions about centralization. The bridge held about $82 million worth of TAO at the time of the report, and its creator stood to earn roughly $16 million in staking rewards over the coming year. Redeeming wTAO for TAO requires the bridge creator to sign off manually on each withdrawal.
Wrapped TAO operates through standard bridging mechanics. TAO from the Bittensor network is locked, and an equivalent amount of WTAO is issued on Ethereum as an ERC-20 token, maintaining a one-to-one backing. This design allows holders to access Ethereum-based decentralized applications, wallets, and DeFi protocols while retaining exposure to the underlying Bittensor asset. The token functions within standard Ethereum smart contract environments and is designed to enhance interoperability and facilitate cross-chain transactions. Withdrawals are verified manually by the bridge creator but processed automatically once verified; the creator said verification happens at least once a day. Because the Bittensor network cannot handle smart contracts, building a fully trustless bridge is difficult. According to the bridge creator, TAO held in the bridge is staked and the staking yield is used to offset bridge transaction costs; he also said he would create an onchain staking contract for wTAO holders, but the Tao Bridge website did not appear to link to such a contract.
Wrapped TAO distinguishes itself by extending the reach of the Bittensor network's native asset beyond its original environment. By existing as an EVM-compatible form of TAO, it enables holders to participate in Ethereum-based DeFi activities such as lending, staking, and trading. WTAO is an ERC-20 contract on Ethereum; its security depends on the Ethereum network and the bridge contract, which is community-run and controlled by a single person and has no submitted contract security audit. Etherscan shows "No Contract Security Audit Submitted." CoinMarketCap has issued a smart contract warning noting that the contract can be modified by its creator. The project carries a CertiK rating of 2.8 out of 5; the rating is not a proof of security.
WTAO is an ERC-20 wrapped token used primarily for lending, staking, and trading in Ethereum DeFi. It supports a range of decentralized finance applications, enabling users to engage in lending, staking, and trading activities. The token serves as the bridge that brings TAO into Ethereum-based protocols and applications, allowing the asset to function in DeFi and other EVM contexts. WTAO may be available for swapping via Onchain, Crypto.com's official decentralized product. It can also be bought, sold, managed, and traded directly in MetaMask, and swapped across chains in Trust Wallet.
The Wrapped TAO ecosystem is centered on interoperability and DeFi integration. The project supports lending, staking, and trading activities. WTAO trades on multiple markets and is available in several fiat conversion pairs (AUD, BRL, CAD, EUR, GBP, HKD, RUB, SGD, TWD, KRW). According to CoinMarketCap, Wrapped TAO has outlined plans that include the demonstration of a privacy sidechain, the launch of a public testnet, and strategic collaborations with notable entities in the blockchain space.
Wrapped TAO is not mined in the traditional sense. It is a wrapped asset created through bridging mechanics, where TAO from the Bittensor network is locked to issue an equivalent amount of WTAO on Ethereum. The underlying TAO token powers the Bittensor network, where validators query and rank machine learning models and miners contribute computational resources. Rewards are distributed proportionally between miners and validators under a 50/50 model. Holders of WTAO can participate in staking and DeFi activities such as lending and trading.
Because WTAO is an ERC-20 token on Ethereum, it can be stored in wallets that support the Ethereum network, including MetaMask and other EVM-compatible wallets. Users should exercise caution given that CoinMarketCap has warned the smart contract can be modified by the contract creator, for example to disable selling, change fees, mint new tokens, or transfer tokens. A DL News report also noted that the bridge issuing the token is controlled by a single person, which introduces centralization risk. Best practices include using hardware wallets for significant holdings, verifying contract addresses before interacting, avoiding unknown links, and conducting independent research before taking any action.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for WTAO are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of Wrapped TAO (WTAO) is $259.47. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated WTAO to USD rate at the top of BTCC’s price page. In terms of market scope, Wrapped TAO records a 24h trading volume of $246.62K (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $29.9M. Its current circulating supply stands at 116.34K out of a maximum supply cap of 21M.
The price volatility of Wrapped TAO (WTAO) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (116.34K) to max supply (21M), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Wrapped TAO (WTAO) hit an all-time high (ATH) of $767.3 on 2024-04-11 12:05, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $21.2 on 2023-05-14 17:00. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading WTAO futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($246.62K), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s WTAOUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Wrapped TAO, simply log into your BTCC account with USDT margin available, navigate to the WTAOUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for WTAOUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $259.47), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for WTAOUSDT with zero financial risk.
Trading Wrapped TAO (WTAO) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for WTAOUSDT, and review its live price ($259.47) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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