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  1. Bitcompare
  2. WETH (WETH)
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WETH

WETH • Cryptocurrency

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Price of WETH (WETH) Today

As of the latest data, WETH (WETH) is currently priced at $3,225.86 with a market capitalization of $8,344,968,503.19. The 24-hour trading volume stands at $434,947,445.00, The circulating supply of WETH is approximately 2586897.293495037. The cryptocurrency has seen a -4.92% decrease in value over the past 24 hours.

WETH Buying Guide

How to earn WETH
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About WETH (Wrapped Ether)

WETH, or Wrapped Ether, is an ERC-20 token that represents Ether (ETH) on the Ethereum blockchain. It allows for seamless integration with decentralized applications (dApps) and smart contracts that require ERC-20 compatibility.
WETH is primarily used within the Ethereum ecosystem to interact with decentralized finance (DeFi) applications. Users can provide liquidity by supplying WETH to decentralized exchanges (DEXs) like Uniswap to earn trading fees.
WETH operates under a unique tokenomics model, pegged to ETH at a 1:1 ratio. The supply of WETH is determined by the amount of ETH wrapped into the WETH smart contract, ensuring that each WETH is backed by an equivalent amount of ETH.
The security of WETH is tied to the robust features of the Ethereum network. Ethereum's Proof of Work (PoW) consensus mechanism validates transactions, protecting against fraud and double-spending. As Ethereum transitions to Proof of Stake (PoS) with Ethereum 2.
WETH was introduced in June 2016 to enable Ether (ETH) usage in dApps requiring ERC-20 compatibility. Since then, it has seen widespread adoption across various DeFi protocols, facilitating liquidity and trading. As Ethereum evolves, particularly with the transition to Ethereum 2.

How to Keep Your WETH Safe?

To ensure the security of your WETH holdings, consider using a hardware wallet, such as Ledger or Trezor, which provides offline storage and protects against online threats. Always keep your hardware wallet firmware updated. For private key management, generate keys in a secure environment and never share them. Use a strong, unique password for any wallet software and enable two-factor authentication whenever possible. Be aware of common security risks, such as phishing attacks and malware, and mitigate these by verifying URLs, using antivirus software, and avoiding public Wi-Fi for transactions. Implement multi-signature wallets for added security, which require multiple approvals for transactions, thereby reducing the risk of unauthorized access. Regularly back up your wallet and private keys in multiple secure locations to ensure you have access to recovery options in case of hardware failure or loss.

How Does WETH Work?

WETH, or Wrapped Ether, operates on the Ethereum blockchain, a decentralized platform that enables smart contracts and decentralized applications (dApps). Ethereum utilizes a Proof of Work (PoW) consensus mechanism, transitioning to Proof of Stake (PoS) with the Ethereum 2.0 upgrade, to validate transactions and secure the network. In the transaction validation process, miners or validators confirm transactions by solving complex cryptographic puzzles, ensuring that only legitimate transactions are added to the blockchain. Network security is maintained through a combination of cryptographic techniques, decentralized node validation, and economic incentives for participants to act honestly. Unique technical features of WETH include its ability to facilitate interoperability with ERC-20 tokens, allowing users to utilize Ether in decentralized finance (DeFi) applications while preserving the underlying value of Ether itself.

Latest WETH (WETH) Interest Rates

WETH (WETH) Lending Rates

PlatformCoinInterest rate
AaveWETH (WETH)Up to 2.03% APY
CompoundWETH (WETH)Up to 0.32% APY
See all 32 lending rates

WETH (WETH) Borrowing Rates

PlatformCoinInterest rate
AaveWETH (WETH)From 1.45% APR
CompoundWETH (WETH)From 1.12% APR
See all 22 borrowing rates

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