Coinbase Wrapped Staked ETH price (CBETH)

About Coinbase Wrapped Staked ETH (CBETH)

The asset with ID 73236 is known as Coinbase Wrapped Staked ETH, with the symbol CBETH. It is a digital asset that combines the features of Coinbase, wrapped tokens, and staking Ethereum. This asset allows users to stake their Ethereum while still having access to the liquidity and trading options provided by Coinbase.

The technology behind Coinbase Wrapped Staked ETH utilizes smart contracts on the Ethereum blockchain to enable the wrapping and staking processes. This ensures security and transparency for users who participate in staking their Ethereum. The asset's main use case is to provide a convenient way for individuals to earn rewards through staking while also being able to easily trade and access their assets on the Coinbase platform.

With a logo version of 0, the asset was last updated at timestamp 1695157185. The associated image for Coinbase Wrapped Staked ETH can be viewed at the provided link: https://cdn.lunarcrush.com/coinbase-wrapped-staked-eth.png. This asset offers a unique opportunity for users to participate in staking Ethereum while enjoying the benefits of a reputable exchange like Coinbase.

How does Coinbase Wrapped Staked ETH work?

Coinbase Wrapped Staked ETH (CBETH) is a decentralized cryptocurrency that represents Ethereum (ETH) tokens staked on the Ethereum 2.0 network. Users can convert their staked ETH into CBETH on the Coinbase platform, allowing them to participate in peer-to-peer transactions and decentralized finance (DeFi) applications while still earning staking rewards. CBETH operates on the Ethereum blockchain, utilizing its secure and transparent ledger technology. The consensus mechanism used by CBETH is Proof of Stake, which ensures network security and efficiency. One of the unique features of CBETH is its ability to combine the benefits of staking with the liquidity of a tradable asset. This allows users to earn passive income through staking while also having the flexibility to trade their assets on various platforms. CBETH can be used for various purposes, including lending, borrowing, and trading in the DeFi space, as well as for cross-border payments and remittances. Its decentralized nature and innovative features distinguish CBETH from traditional financial systems, offering users a new way to engage with the growing cryptocurrency ecosystem.

How to keep your Coinbase Wrapped Staked ETH (CBETH) safe?

To keep your Coinbase Wrapped Staked ETH (CBETH) safe, consider using a hardware wallet like Ledger for enhanced security. Hardware wallets provide an extra layer of protection by storing your private keys offline, making it harder for hackers to access your funds. Additionally, platforms like Coinbase offer trusted security measures such as two-factor authentication and encryption to safeguard your CBETH holdings. By utilizing these secure options, you can better protect your assets and have peace of mind knowing your investments are safe.

Sentiment about Coinbase Wrapped Staked ETH CBETH

Social media platforms are indicating a positive sentiment towards Coinbase Wrapped Staked ETH. The sentiment score, which represents the balance between positive and negative posts weighted by interactions, is broken down as follows:

• On X (formerly Twitter), sentiment towards Coinbase Wrapped Staked ETH varies. Approximately 68.38% of tweets express bullish sentiment, 0.72% express bearish sentiment, and 30.9% remain neutral. These sentiments are based on 3.31K tweets.

These findings are based on a total of 3.34K interactions over the last 24 hours, involving 55 unique social contributors to the topic.

This aligns with Coinbase Wrapped Staked ETH's market performance; it is currently priced at $3.49K with a market capitalization of $692.34M.

In addition, in the last 24 hours, the price decreased by -0.61%. Market data suggests a bearish sentiment, indicating a negative outlook for the cryptocurrency.