Bearish Bitcoin Bets Rise as Polymarket Odds of Sub-$55K Reach 72%
Prediction market data shows rising bearish sentiment on Bitcoin as its market cap declines and liquidity signals weaken across the broader crypto market.
Wrapping
Wrapping is the process of converting a cryptocurrency into a wrapped token to enable its use on a different blockchain. During wrapping, the original asset is locked or held in custody while an equivalent token is issued on the target blockchain. This allows users to access decentralized applications, liquidity pools, or other services that would otherwise be unavailable for the original asset. Wrapping maintains a 1:1 peg with the underlying cryptocurrency, preserving its value. The process is typically managed by smart contracts or custodial systems.