Coinbase Wrapped Staked ETH
cbETH
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About Coinbase Wrapped Staked ETH
Coinbase Wrapped Staked ETH (“cbETH”) is a utility token that represents ETH staked through Coinbase. Coinbase customers can wrap their locked staked ETH to receive cbETH, which is an asset that can be traded, moved on-chain, and used in DeFi and other dapps. cbETH is known as a liquid staking token because it allows holders to get the benefits of staking without lockups or unbonding periods.
Resources
Wrapped Staked ETH (cbETH) is a utility token that symbolizes ETH staked through Coinbase. Users can wrap their locked staked ETH to receive cbETH, a token that can be transferred, moved on-chain, and utilized in DeFi and other decentralized applications. cbETH is recognized as a liquid staking token as it enables holders to participate in staking without the constraints of lockups or unbonding periods.
Wrapped Staked ETH (cbETH) is a unique form of Ethereum (ETH) that represents staked ETH in a tradable format. Unlike natively-staked ETH, cbETH provides users with the flexibility to sell, transfer, or use it in various ways. It can be moved to a personal wallet and traded outside the platform it was created on. The number of cbETH units you receive upon wrapping is based on the ETH to cbETH conversion rate. cbETH represents 1 staked ETH plus all of its accrued staking interest starting from when cbETH's conversion rate and balance were initialized (June 16, 2022 19:34 UTC). However, the market prices of cbETH and staked ETH can deviate as they are traded across various platforms.
Wrapped Staked ETH, also known as cbETH, is a liquid representation of a user's staked ETH. It operates on the cToken Model, meaning tokens may be both minted and burned according to a conversion rate, which represents accrued staking interest since cbETH's conversion rate and balance were initialized (June 16, 2022 19:34 UTC). There is no fixed interchangeability between ETH and cbETH at a 1:1 ratio. As staked ETH accumulates non-monetary rewards over time, the value represented by each cbETH token may increase. cbETH provides different ways for users to engage with their tokens. It's important to note that the prices of these assets are subject to market dynamics.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Market
Market stats
$543.8M
$5.7M
172.7K cbETH
1 day
#217
$4,339.19
Market performance
-0.04%
-2.24%
-2.84%
-0.51%
-4.61%
+67.15%
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