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Wrapped tokens are variations that operate on a different blockchain network that is not their native.
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Each of these tokens has been "packaged" so that they can function on the Ethereum blockchain.
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Wrapped Bitcoin, renDoge and THORChain (ERC-20) are the best wrapped tokens to buy on November 16th.
Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin (BTC) on Ethereum and makes it possible to use all the capabilities of the blockchain.
renDOGE is a representation of Dogecoin (DOGE) on the Ethereum blockchain by RenVM.
THORChain has developed a chain-independent bridging protocol that enables trustless and secure value transfer connections with other chains. THORChain (ERC20) (RUNE) is the token that works on the Ethereum blockchain.
Should You Buy Wrapped Bitcoin (WBTC)?
On November 16, Wrapped Bitcoin (WBTC) was valued at $ 59,664.2.
To get a better idea of what kind of value point this is for the token, we'll be comparing it to its all-time high and its performance in October.
Wrapped Bitcoin (WBTC) hit its all-time high on November 10th when the token hit a value of $ 70,643.40.
Here we see that at its all-time high, the WBTC token was $ 10,979.2, or 18%, higher than it was on November 16.
In terms of October performance, WBTC was valued at $ 43,411 on October 1, which was its lowest point.
On October 20th, the WBTC price was $ 66,857, the highest level for the month.
The value of the token has increased by $ 23,446 or 54%.
With that in mind, we can expect WBTC to hit $ 63,000 by the end of November, making it a solid buy.
Should you buy renDOGE (RENDOGE)?
On November 16, renDOGE (RENDOGE) was valued at $ 0.2329.
With the aim of getting an indication of what value this represents for the token, we'll be comparing it to its all-time high volume as well as its October performance.
renDOGE hit its all-time high on May 8th when it hit $ 0.731249.
This means that renDOGE was then $ 0.498349, or 213%, higher than it was on Tuesday.
If we look at October performance, the token was valued at $ 0.1934 on October 1st, which was its lowest value.
The highest point was on October 28th when renDOGE hit a value of $ 0.3344.
Here the value of the token increased by $ 0.141, or 72%.
With that in mind, renDOGE has the potential to hit $ 0.3 by the end of November, making it a solid buy.
Should you buy THORChain (ERC20) (RUNE)?
On November 16, THORChain (ERC20) (RUNE) was valued at $ 11.09.
To find out exactly what value this is for this packaged token, let's compare it to its all-time high as well as its most recent performance in October.
The token hit its all-time high of $ 20.76 on May 18. Here we can see that the token was up $ 9.67, or 87%, at its ATH point.
On October 1, the token was at its lowest value of $ 6.8895.
Its highest price was October 30th when it was worth $ 14.75.
Here we can see that the token is up $ 7.8605, or 114%.
With that in mind, we can expect this token to hit $ 14 by the end of November, making it a worthwhile purchase.
The post Top 3 Wrapped Token for sale on November 16: WBTC, RENDOGE, THORChain (ERC20) (RUNE) appeared first on BitcoinMag.de .