If we visit the Coinmarketcap site, we will find several names of wrapped tokens such as: Wrapped AVAX, Wrapped Bitcoin, Wrapped BNB, Wrapped Ether, Wrapped Fantom etc. Basically, wrapped tokens are a type of token that is linked/pegged to its underlying coin, just like stablecoins are pegged to USD or gold. Even though wrapped tokens can run on different blockchains, the value/price of wrapped tokens will always follow the original coin as a basis, just like Bitcoin wrapped tokens will always follow the price of Bitcoin as well as other wrapped tokens.
