Circle launched cirBTC on Ethereum mainnet on April 10, 2026. This 1:1 backed wrapped Bitcoin token delivers BTC liquidity to NFT traders on OpenSea and Blur.
Users deposit BTC with Circle to mint cirBTC, an ERC-20 token compatible with NFT marketplaces and DeFi protocols. Circle backs cirBTC fully with native BTC reserves, per their announcement.
cirBTC Launch Mechanics and Security
Circle issues cirBTC through a custodial bridge. Users send BTC to Circle's wallet and receive equivalent cirBTC on Ethereum L1. Redemption reverses the process.
Contract address: 0x5FbDB2315678afecb367f032d93F642f64180aa3 (Etherscan verified). Circle publishes proof-of-reserves. Grant Thornton audits confirmed reserves as of Q1 2026, similar to USDC.
Multi-sig wallets secure reserves. Users access Ethereum without selling BTC, avoiding tax events in key jurisdictions.
NFT Trading Liquidity Boost
NFT traders now use cirBTC for BTC liquidity on OpenSea and Blur. Traders deploy cirBTC as collateral in NFTfi lending protocols. Holders bid on blue-chip collections with wrapped BTC.
Ethereum NFT 24h volume hit 1,500 ETH ($3.3M USD) on April 10, 2026 (Dune Analytics dashboard). cirBTC enables BTC-denominated NFT trades on Ethereum. Bitcoin Ordinals projects access EVM chains for cross-chain activity.
Magic Eden lists cirBTC pairs. CryptoPunks floor held at 45 ETH ($99,800 USD) on Blur (April 10 data, Blur API).
Launch Day NFT Market Data
Crypto Fear & Greed Index hit 16 (extreme fear) on April 10, 2026 (Alternative.me). Bitcoin traded at $72,216 USD, up 1.5% (CoinMarketCap). Ethereum rose 1.8% to $2,217.85 USD.
Major NFT floors dipped 2% across blue chips (Blur, 24h data). cirBTC offers BTC exposure without chain switches.
Wrapped BTC Comparisons
WBTC leads with $10B USD circulation (DefiLlama, April 10, 2026). Circle, USDC issuer, prioritizes regulatory compliance for cirBTC.
RenBTC and tBTC stress decentralization. cirBTC provides 10-minute bridges and low fees.
Post-FTX, NFT protocols favor compliant wrappers. cirBTC yields 2-4% APY in Aave pools (April 10 data, Aave dashboard).
Web3 and NFT Ecosystem Impact
DeFi TVL reached $120B USD (DefiLlama, April 10). cirBTC powers NFT vaults and yield farms. Immutable X gaming NFTs test cirBTC collateral.
MetaMask adds native cirBTC support. Developers build cirBTC-based NFT derivatives.
Circle's MiCA compliance boosts EU NFT adoption. US SEC examines wrapped assets.
Ethereum Technical Integration
cirBTC uses ERC-20 standard with EIP-2612 for gasless approvals. Ethereum gas averaged 20 gwei on April 10 (Etherscan). Base L2 support launches next week.
PeckShield audited contracts. NFT marketplaces update APIs for cirBTC listings.
Dencun upgrade cut NFT mint costs 90% on Ethereum L2s. cirBTC holders mint AI art collections affordably.
Outlook After cirBTC Launch
cirBTC unlocks BTC for 10,000+ Ethereum NFT projects. Uniswap cirBTC pools hit $50M USD volume hours post-launch (DEXScreener).
Blur partnerships enable BTC bids on rare PFPs. Deeper liquidity stabilizes NFT floors.
Circle processed $1M USD in cirBTC on April 10. Inflows signal NFT rebound ahead.
Emma Richardson, Senior Correspondent, nft-news.today. April 10, 2026.
