What Coinbase Wrapped Staked ETH is

Coinbase Wrapped Staked ETH (CBETH) is a liquid-staking / restaking derivative token, currently ranked 109th by market capitalization among the assets we track. Coinbase Wrapped Staked ETH lets stakers have it both ways — yield from securing a network, plus liquidity to use the position elsewhere in DeFi. The token accrues value as the staking rewards beneath it compound.

Coinbase Wrapped Staked ETH (CBETH) is a token that represents Ethereum (ETH) staked on Coinbase, allowing users to earn staking rewards while maintaining liquidity. Each CBETH token is backed by staked ETH, enabling holders to trade or utilize their staked assets without losing their stake.

How the yield and peg work

Holding Coinbase Wrapped Staked ETH is holding staking yield in liquid form. The main risks are the staking provider's smart contracts and any divergence between the token's market price and the redeemable value of the stake.

Background & fundamentals

In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), Polygon (MATIC) Token, and Arbitrum Ecosystem.

Where Coinbase Wrapped Staked ETH sits in the market

Trading around $1,778, Coinbase Wrapped Staked ETH carries a market capitalization of $223.29M. Around $2.54M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 1.14% of the float — on the quieter side, which can mean thinner liquidity for large orders.

Coinbase Wrapped Staked ETH carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. The token is roughly -67% under its record of $5,439 — a meaningful but not catastrophic drawdown. Measured from its all-time low of $1,346, CBETH is up +32%.

What the price history shows

The tape currently reads 24-hour -2.73%, 7-day -4.81%, 30-day -14.25%, 1-year -21.70%. Across roughly the last 366 days of daily candles, CBETH endured a peak-to-trough drawdown of about 61% before stabilizing.

Volatility profile

Recent action puts Coinbase Wrapped Staked ETH in the Moderate-volatility band — it shows the kind of price movement common in mid-cap crypto assets — meaningful but not unusual. Over the last 30 days the move totals -14.25%, a useful input for stop placement and position sizing.

How to evaluate a liquid-staking token like Coinbase Wrapped Staked ETH

The honest checklist for CBETH is short:

  • Peg to underlying — whether CBETH trades close to the value of the stake it represents.
  • Provider risk — the smart-contract and validator risk of the staking protocol behind CBETH.
  • Yield and unlocks — the staking yield and how withdrawal queues behave under stress.

This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.