Coinbase Wrapped Staked ETH Reaches Self Reported Market Capitalization of $296.93 Million (CBETH)

Coinbase Wrapped Staked ETH (CBETH) traded up 0.6% against the U.S. dollar during the 24-hour period ending at 9:00 AM ET on May 20th. One Coinbase Wrapped Staked ETH token can now be bought for $2,404.07 or 0.03120413 BTC on popular exchanges. Coinbase Wrapped Staked ETH has a total market cap of $296.93 million and $3.75 million worth of Coinbase Wrapped Staked ETH was traded on exchanges in the last 24 hours. Over the last week, Coinbase Wrapped Staked ETH has traded down 6.9% against the U.S. dollar.

Here is how related cryptocurrencies have performed over the last 24 hours:

• 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 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded up 0.7% against the dollar and now trades at $77,146.30 or 0.99654917 BTC.
• SolvBTC (SOLVBTC) traded 0.1% lower against the dollar and now trades at $76,574.08 or 0.99390783 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Coinbase Wrapped Staked ETH Profile

Coinbase Wrapped Staked ETH was first traded on August 23rd, 2022. Coinbase Wrapped Staked ETH’s total supply is 373,334 tokens and its circulating supply is 123,509 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 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 Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Coinbase Wrapped Staked ETH using one of the aforementioned exchanges.

CBETH/USD price chart by TradingView