Wrapped BTC · backing & peg
Is the wrapper
still holding?
WrapWatch keeps a live eye on wrapped Bitcoin on Solana. It reads Zeus zBTC circulating supply straight from the chain, measures its price against native BTC as a de-peg spread in basis points, and surfaces holder concentration and pool depth. All reads are live and keyless. Nothing here is wrapped, minted, traded or signed.
Read-only concept. zBTC supply, holder concentration and wallet balances are read live from a public Solana RPC; prices come from Jupiter and pool depth from DexScreener. The de-peg spread is computed from live prices and labelled; comparisons use cbBTC as the reference. Not financial advice.
Your wallet
You, read-only
A read-only view of your connected wallet, read live from the chain. WrapWatch never requests a transaction or a signature — it only reads public on-chain data.
The spread
De-peg monitor
zBTC should trade one-to-one with Bitcoin. We take its live Jupiter price and compare it to cbBTC — a Coinbase-backed wrapped BTC used here purely as a native-BTC reference — and express the gap in basis points. Green is tight; amber and red mean the wrapper is drifting from its peg.
cbBTC is used only as a convenient live stand-in for the price of native Bitcoin; WrapWatch is not affiliated with Coinbase, Zeus Network or any issuer. A basis point is 1/100th of a percent. The spread is a live arithmetic read, not a claim about redeemability or reserves.
What's wrapped
Backing & supply
The circulating supply of zBTC straight from the chain via getTokenSupply, valued at the live BTC price. This is the amount of wrapped BTC outstanding on Solana right now — the number a reserve attestation would need to cover.
Who holds it
Holder concentration
The largest zBTC token accounts via getTokenLargestAccounts, each sized against circulating supply. Wrapped assets often concentrate in a few pools and protocol vaults — concentration is not inherently bad, but it tells you how much of the wrapper a handful of accounts control.
| # | Token account | zBTC held | Value | Share of supply |
|---|---|---|---|---|
| Reading the largest token accounts… | ||||
These are SPL token accounts, not wallet owners — a single protocol or exchange can sit behind several. Shares are each account's balance over current circulating supply. All figures are live on-chain reads; no identities are claimed.
The gov token
Governance: ZEUS
zBTC is issued through Zeus Network, whose governance token is ZEUS. It does not back the peg, but its market tells you how the protocol around the wrapper is valued. Live price, 24-hour move and pool depth from Jupiter and DexScreener.
Why it's only a tile
A governance token is a claim on protocol direction and fees, not on the Bitcoin behind zBTC. WrapWatch shows it so you can read the protocol's market alongside the peg — but a strong ZEUS price is not proof the wrapper is solvent, and a weak one is not proof it isn't.
Live price & depth · no position implied · not financial advice.
Under the hood
How WrapWatch reads the wrapper
Four steps, every one a real call to a public, keyless endpoint. Nothing is modelled except where labelled — the de-peg spread and every balance are live arithmetic over live data.
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01
Read the supply
A same-origin read-only RPC call to
getTokenSupplyreturns how much zBTC is circulating on Solana right now — the wrapped amount outstanding.…
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02
Price the peg
Jupiter gives the live USD price of zBTC and of cbBTC. The spread is
(zBTC − cbBTC) / cbBTC × 10000basis points — positive means zBTC is trading rich, negative means at a discount.…
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03
Weigh the holders
getTokenLargestAccountslists the biggest zBTC token accounts. Each is sized against supply so you can see how concentrated the wrapper is.…
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04
Check the depth
DexScreener gives live pool liquidity and volume. Thin depth relative to wrapped value raises a warning: a wide spread may be a shallow book, not a broken peg.
…
Straight answers
Questions
Does a de-peg here mean zBTC is unbacked?
No. The spread is purely a live price comparison between zBTC and a reference BTC price (cbBTC). A market price can drift from peg for all sorts of reasons — thin liquidity, a single large trade, routing — that have nothing to do with the reserves behind the token. Treat a wide spread as a prompt to look closer, not as proof of anything.
Why compare against cbBTC and not "real" BTC?
There is no native Bitcoin price feed on Solana, so we use cbBTC — a large, liquid, Coinbase-custodied wrapped BTC — as a convenient live proxy for the BTC price. It is a reference, not an endorsement, and cbBTC can itself move slightly off BTC.
Is the supply number the true backing?
The supply is exactly what the chain reports as circulating zBTC. Whether an equal amount of Bitcoin sits in reserve is a question for the issuer's attestations — WrapWatch cannot read a Bitcoin cold wallet. We show the outstanding amount and value it; we do not verify reserves.
Can I wrap, redeem or trade here?
No. WrapWatch is read-only. There is no wrapping, no redemption, no order, no custody and nothing is minted. Connecting a wallet only reads your public balances — it never asks for a transaction or a signature.
Do you collect anything about me?
No accounts, no tracking, no cookies. Everything runs in your browser against public, keyless APIs and a read-only RPC proxy.
What this is, plainly
WrapWatch is a read-only concept that turns public Solana data into a wrapped-BTC backing and de-peg monitor. The chain reads, prices and pool depth are live and keyless; the de-peg spread is transparent arithmetic over them. Nothing here wraps, mints, redeems, trades, holds funds or signs. Data live, model transparent. Not financial advice.