Coinbase Wrapped Staked ETH Achieves Self Reported Market Cap of $410.46 Million (CBETH)

Coinbase Wrapped Staked ETH (CBETH) traded 22% lower against the US dollar during the 24 hour period ending at 22:00 PM Eastern on August 4th. During the last week, Coinbase Wrapped Staked ETH has traded down 31% against the US dollar. Coinbase Wrapped Staked ETH has a market capitalization of $410.46 million and approximately $2.78 million worth of Coinbase Wrapped Staked ETH was traded on exchanges in the last day. One Coinbase Wrapped Staked ETH token can currently be purchased for about $2,453.32 or 0.04549422 BTC on exchanges.

Here’s how other cryptocurrencies have performed during the last day:

• 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 down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher 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 down 2.8% against the dollar and now trades at $0.0120 or 0.00000022 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded down 5% against the dollar and now trades at $0.0770 or 0.00000132 BTC.

Coinbase Wrapped Staked ETH Token Profile

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. The official website for Coinbase Wrapped Staked ETH is www.coinbase.com/price/coinbase-wrapped-staked-eth. Coinbase Wrapped Staked ETH’s official Twitter account is @coinbaseassets and its Facebook page is accessible here.

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 currently possible to purchase alternative cryptocurrencies such as Coinbase Wrapped Staked ETH directly using US dollars. Investors seeking to trade Coinbase Wrapped Staked ETH should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Coinbase Wrapped Staked ETH using one of the aforementioned exchanges.

CBETH/USD price chart by TradingView