Wrapped tokens are gaining traction again. WBTC's supply on Ethereum has returned to March 2021 levels, a strong indicator of DeFi activity. Could other wrapped tokens like cbBTC, solvBTC, or LBTC fill the same role in the future?

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WBTC's resurgence is a positive sign for the DeFi space. Other wrapped tokens could indeed fill the same role, but they need to establish a strong reputation and liquidity pool to compete with WBTC.