| General information | |
|---|---|
| Global rank: | 211 |
| Name: |
Wrapped Beacon ETH |
| Symbol: | WBETH |
| Current coin price (PHP): | 202 500.78 ₱ |
| Last hour: | arrow_downward-0.860 % |
| Last 24 hours: | arrow_downward-4.36 % |
| Last 7 days: | -10.06 %trending_down |
| Capitalisation (PHP): | 181 676 028 483.66 ₱ |
| Volume 24h (PHP): | 619 122 945.93 ₱ |
| Available supply: | 897 162.00 WBETH |
| Total coin supply: | -1 WBETH |
| Start date: | 2023-04-25 |
Wrapped Beacon ETH/Philippine Peso (WBETH/PHP) price chart
Wrapped Beacon ETH/Philippine Peso (WBETH/PHP) capitalisation and volume charts
Wrapped Beacon ETH (WBETH) is a liquid staking cryptocurrency specifically created to facilitate Ethereum (ETH) staking while providing liquidity. Each WBETH token is equivalent to one Ethereum token, inclusive of the total staking rewards accrued by the ETH token in ETH Staking. Importantly, WBETH is a wrapped version of BETH, which itself represents staked ETH. WBETH is characterized by its reward-bearing nature, meaning it accumulates ETH2.0 staking rewards not by increasing in quantity but by increasing in value relative to BETH. This design allows Ethereum stakeholders to participate in the staking process without sacrificing the liquidity of their assets.
WBETH was introduced by Binance, a major player in the cryptocurrency exchange market. The project is significant for its innovation in the DeFi (Decentralized Finance) sector, particularly in the context of Ethereum staking. The initiative behind WBETH is to enable users to partake in Ethereum's staking process while retaining the flexibility to engage in other DeFi projects. This is achieved by providing immediate liquidity to staked assets, addressing a common challenge faced by cryptocurrency investors who often have to choose between earning staking rewards and maintaining liquid assets.
The primary use of WBETH is to offer users the dual benefit of participating in Ethereum staking and maintaining liquidity for other investment opportunities. This is particularly relevant in the DeFi space, where liquidity is a critical aspect. By holding WBETH, users can earn staking rewards from Ethereum 2.0 while simultaneously having the freedom to engage in other financial activities in the DeFi ecosystem.