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Coinbase Wrapped Staked ETH(CBETH)

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$4,206.90
(1.58%)
0.04204450 BTC
Market Cap (Rank#151)
$704,897,285
7,045 BTC
Vol 24h
$3,218,243
32.1637 BTC
Circulating Supply
167,557.52
Max Supply
1,343,991.04
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About Coinbase Wrapped Staked ETH?

The live price of Coinbase Wrapped Staked ETH (CBETH) today is 4,206.90 USD, and with the current circulating supply of Coinbase Wrapped Staked ETH at 167,557.52 CBETH, its market capitalization stands at 704,897,285 USD. In the last 24 hours CBETH price has moved 201.92 USD or 0.05% while 3,655,008 USD worth of CBETH has been traded on various exchanges. The current valuation of CBETH puts it at #151 in cryptocurrency rankings based on market capitalization.

Learn more about the Coinbase Wrapped Staked ETH blockchain network and how it works or follow the price of its native cryptocurrency CBETH and the broader market with our unique COIN360 cryptocurrency heatmap.

What is Coinbase Wrapped Staked Ethereum?

Coinbase Wrapped Staked Ethereum (cbETH) is a utility token that represents Ethereum (ETH) staked through Coinbase. Normally, staked ETH is locked up, meaning you can’t access or trade it until the staking period ends. cbETH changes that by allowing you to "wrap" your staked ETH into a liquid token.

CBETH essentially represents your staked ETH balance, including any staking rewards that have accrued. It provides a way to stay active in the crypto market while still benefiting from staking.


What is cbETH?

CBETH is a liquid version of your staked ETH. When you stake ETH through Coinbase, it typically gets locked up, but with cbETH, you can keep your assets liquid. This token allows you to trade, transfer, or use your staked ETH in various DeFi applications, while still earning staking rewards.

One thing to note is that cbETH might trade at a different price than regular ETH due to market conditions. However, it still holds value based on the staked ETH it represents, plus any rewards earned.


How Does Coinbase Wrapped Staked ETH Work?

When you stake your ETH through Coinbase, you have the option to convert it into cbETH. This process is known as "wrapping" your staked ETH. Here’s how it works:

  1. Staking ETH: When you stake ETH on Coinbase, it’s locked up to help secure the Ethereum network. In exchange, you earn rewards in the form of additional ETH.

  2. Wrapping into cbETH: By wrapping your staked ETH, you receive an equivalent amount of cbETH. This cbETH can then be used just like any other cryptocurrency—it can be traded, transferred, or used in DeFi applications.

  3. Unwrapping cbETH: If you decide you want your original staked ETH back, you can "unwrap" your cbETH at any time. The amount of ETH you receive will be based on the current conversion rate, which accounts for the staking rewards that have accrued since you first staked your ETH.

  4. Market Dynamics: Since cbETH can be traded on various exchanges, its price might fluctuate independently from the price of staked ETH. Depending on market conditions, cbETH could be valued higher or lower than the equivalent amount of staked ETH.


How to Wrap and Unwrap cbETH

If you’re interested in getting started with cbETH, it’s important to understand the wrapping and unwrapping process:

To Wrap Your Staked ETH:

  1. Sign in to your Coinbase.com account or use the mobile app.
  2. Click on My assets.
  3. Choose your Ethereum balance.
  4. Select your Ethereum Earning APY balance.
  5. Click on unstake.
  6. Select Wrap ETH for cbETH.
  7. Enter the amount and click Preview.
  8. Review your order and click Accept and wrap now.  

To Unwrap Your cbETH:

  1. Sign in to your Coinbase account or open the mobile app.
  2. Choose My assets.
  3. Select your Coinbase Wrapped Staked ETH Wallet.
  4. Click "see options" under "wrap or unwrap."
  5. Choose unwrap cbETH for Staked ETH.


The Role of cbETH in Decentralized Finance (DeFi)

cbETH plays a crucial role in the DeFi ecosystem by providing a liquid form of staked Ethereum. Traditional staking typically locks up your ETH, making it inaccessible for other uses. 

However, with cbETH, you can participate in DeFi protocols without unbonding your staked assets. This opens up various opportunities to leverage your cbETH in ways that were previously unavailable with locked staked ETH.

For example, you can use cbETH as collateral for loans in DeFi lending platforms, participate in yield farming, or even trade it for other assets. This flexibility allows you to maximize the utility of your staked ETH while still earning staking rewards. By integrating cbETH into DeFi, you can potentially enhance your returns through strategies that combine staking rewards with DeFi yields.


Is CBETH a Good Investment?

Deciding whether cbETH is a good investment depends on various factors. It offers the potential for staking rewards while also giving you the flexibility to trade or use the token in DeFi applications. However, there are risks involved, and it’s important to weigh the pros and cons.

Should I Invest in CBETH?

Reasons for Investing in CBETH
Reasons Against Investing in CBETH   
 
  1. Liquidity: cbETH provides liquidity to staked ETH, allowing you to trade or use it without waiting for the staking period to end.
  2. Staking Rewards: You continue to earn staking rewards even after converting your ETH to cbETH.
  3. Flexibility: cbETH can be moved to a personal wallet and used across various platforms, giving you more control over your assets.
  4. DeFi Integration: cbETH can be used in various DeFi applications, offering opportunities for yield farming and other investments.
 
  1. Market Fluctuations: The price of cbETH can deviate from staked ETH, potentially leading to a loss in value.
  2. Complexity: The process of wrapping and unwrapping ETH can be complex and may not be suitable for beginners.
Coinbase Wrapped Staked ETH Price4,206.90 USD
Market Rank#151
Market Cap704,897,285 USD
24h Volume3,218,243 USD
Circulating Supply167,557.52 CBETH
Max Supply1,343,991.04 CBETH
Yesterday's Market Cap695,159,872 USD
Yesterday's Open / Close3,950.10 USD / 4,152.02 USD
Yesterday's High / Low4,167.50 USD / 3,874.37 USD
Yesterday's Change
0.05% ( 201.92 USD )
Yesterday's Volume3,655,007.75 USD
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