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First Mover: Tron's Play for WBTC Shows Competition to Relieve Ethereum Congestion

Competition builds in market for tokenized bitcoin, used to get extra profit off holdings of the cryptocurrency recently denigrated as a "pet rock."

By Bradley Keoun, Omkar Godbole

Updated Sep 14, 2021, 10:00 a.m. Published Sep 25, 2020, 1:08 p.m.

Bitcoin has been likened to a "pet rock," but tokenization allows it to be deposited for interest in DeFi applications on the Ethereum blockchain - and now Tron too.