Publicly categorized under "Decentralized BTC" (Smart-Contract Token). Self-reported / public protocol description: "tBTC is Threshold's decentralized and permissionless bridge to bring BTC to the Ethereum network. tBTC has been designed to allow bitcoin holders to participate in Ethereum's Decentralized Finance (DeFi) applications. Users wishing to utilize their bitcoin on Ethereum can use the tBTC decentralized bridge to deposit their bitcoin into the system and get a minted tBTC token in their Ethereum wallet"
Calculate what 1 TBTC would mathematically equal if tBTC's circulating market cap ($398.99M) matched a benchmark asset or target valuation at constant supply (4,956 TBTC).
| Benchmark Target | Target Market Cap | Implied TBTC Price | Supply-Adjusted Ratio |
|---|---|---|---|
| Wrapped Bitcoin (WBTC) — Web3 & Ecosystem #1 Leader | $9.33B | $1,882,893.18 | 23.39x (+2238.8%) |
| Ethereum (ETH) — Ethereum (ERC-20) Leader | $286.09B | $57,726,746.18 | 717.04x (+71604.2%) |
| Rank #100 Benchmark (Jupiter Staked SOL) | $664.18M | $134,015.06 | 1.66x (+66.5%) |
| Rank #50 Large-Cap Benchmark (Ondo) | $1.98B | $399,701.08 | 4.96x (+396.5%) |
| Rank #10 Mega-Cap Benchmark (Zcash) | $19.55B | $3,945,627.96 | 49.01x (+4801.0%) |
| $1.00 Billion Milestone Market Cap | $1.00B | $201,775.63 | 2.51x (+150.6%) |
| $10.00 Billion Milestone Market Cap | $10.00B | $2,017,756.26 | 25.06x (+2406.3%) |
| Bitcoin (BTC) Market Cap (#1) | $1.62T | $326,531,234.62 | 4055.95x (+405494.9%) |
Formula: Implied Price = Target Market Cap ÷ Current Circulating Supply. For mathematical comparison only.
Compares tBTC's circulating float against its total/maximum protocol supply.
Recorded ATH for tBTC is $125,742.91 (currently -35.98% from ATH).
| ATH Milestone | Milestone Price | Math % Change Needed | Implied Market Cap |
|---|---|---|---|
| 25% of Historical ATH | $31,435.73 | -61.0% | $155.80M |
| 50% of Historical ATH | $62,871.46 | -21.9% | $311.59M |
| 75% of Historical ATH | $94,307.18 | +17.1% | $467.39M |
| 100% of Historical ATH | $125,742.91 | +56.2% | $623.18M |
As of the latest public snapshot, tBTC (TBTC) holds a circulating market capitalization of $398.99M at a reference price of $80,506.73, ranking #133 out of the Top 1,000 cryptocurrencies tracked on ChainPulse Studio.
tBTC is indexed in public API registries under: Ethereum (ERC-20), Solana (SPL), Polygon, Arbitrum L2, Optimism L2, Base L2, Sui & Move VM. Publicly categorized under "Decentralized BTC" (Smart-Contract Token). Self-reported / public protocol description: "tBTC is Threshold's decentralized and permissionless bridge to bring BTC to the Ethereum network. tBTC has been designed to allow bitcoin holders to participate in Ethereum's Decentralized Finance (DeFi) applications. Users wishing to utilize their bitcoin on Ethereum can use the tBTC decentralized bridge to deposit their bitcoin into the system and get a minted tBTC token in their Ethereum wallet"
tBTC has a reported circulating supply of 4,956 TBTC and a dynamic/uncapped maximum supply, resulting in an implied Fully Diluted Valuation (FDV) of $398.99M (100.0% circulating float).
Based on circulating-supply division (Target Market Cap ÷ Circulating Supply), if TBTC reached Wrapped Bitcoin’s market cap of $9.33B, 1 TBTC would mathematically equal $1,882,893.18 (23.39x current market cap).
tBTC recorded a historical All-Time High of $125,742.91 and currently trades -35.98% from that peak. Returning to 100% of its historical ATH would mathematically require a +56.2% change from current reference levels.
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