Coinbase Wrapped Staked ETH (CBETH) Achieves Self Reported Market Capitalization of $588.33 Million

Coinbase Wrapped Staked ETH (CBETH) traded 4.8% higher against the dollar during the 1 day period ending at 16:00 PM Eastern on July 26th. Coinbase Wrapped Staked ETH has a market cap of $588.33 million and approximately $2.19 million worth of Coinbase Wrapped Staked ETH was traded on exchanges in the last day. One Coinbase Wrapped Staked ETH token can now be bought for about $3,516.45 or 0.05180666 BTC on major exchanges. Over the last week, Coinbase Wrapped Staked ETH has traded down 6.9% against the dollar.

Here is how similar cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded 1.3% higher against the dollar and now trades at $0.18 or 0.00000272 BTC.
• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 1.8% higher against the dollar and now trades at $0.0133 or 0.00000020 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Coinbase Wrapped Staked ETH

Coinbase Wrapped Staked ETH’s launch date was August 23rd, 2022. Coinbase Wrapped Staked ETH’s total supply is 1,445,265 tokens and its circulating supply is 167,309 tokens. Coinbase Wrapped Staked ETH’s official Twitter account is @coinbaseassets and its Facebook page is accessible here. Coinbase Wrapped Staked ETH’s official website is www.coinbase.com/price/coinbase-wrapped-staked-eth.

According to CryptoCompare, “CBETH is a token that represents staked ETH on the Ethereum 2.0 network. It allows users to participate in staking without having to lock up their ETH or run a validator node. CBETH can be traded on DeFi platforms and used as collateral for lending and borrowing. CBETH was created by Coinbase, a cryptocurrency exchange platform. It can be used to participate in Ethereum 2.0 staking indirectly, trade on DeFi platforms, use as collateral for lending and borrowing, and enhance liquidity in the Ethereum ecosystem. CBETH is a wrapped token, which means that it is backed by a certain amount of ETH. When you purchase CBETH, you are essentially buying a claim to a portion of the ETH that has been staked on the Ethereum 2.0 network. You will receive staking rewards proportional to your CBETH holdings.”

Buying and Selling Coinbase Wrapped Staked ETH

It is usually not presently possible to buy alternative cryptocurrencies such as Coinbase Wrapped Staked ETH directly using US dollars. Investors seeking to acquire Coinbase Wrapped Staked ETH should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Coinbase Wrapped Staked ETH using one of the exchanges listed above.

CBETH/USD price chart by TradingView