What Wrapped Liquid Staked Ether 2.0 is

Wrapped Liquid Staked Ether 2.0 (WSTETH) is a liquid-staking / restaking derivative token, currently ranked 15th by market capitalization among the assets we track. Wrapped Liquid Staked Ether 2.0 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.

Wrapped Liquid Staked Ether 2.0 (WSTETH) is a token representing staked Ether in the Ethereum 2.0 network, designed to enhance liquidity by allowing users to trade or utilize their staked assets. It enables seamless participation in staking while retaining the benefits of being able to use the underlying Ether.

How the yield and peg work

Wrapped Liquid Staked Ether 2.0 tracks the value of the staked asset plus rewards, so it should trade at or slightly above the underlying. A discount usually signals withdrawal-queue stress or smart-contract risk rather than a broken model.

WSTETH is not mined; it is issued as a token rather than secured by its own mining or staking layer.

Background & fundamentals

Wrapped Liquid Staked Ether 2.0 first went live in 2021, giving it roughly 5 years of on-chain price history to draw on. CoinPaprika classifies the project's development status as "Working product". In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), Arbitrum Ecosystem, and Polygon (MATIC) Token.

Where Wrapped Liquid Staked Ether 2.0 sits in the market

Trading around $1,955, Wrapped Liquid Staked Ether 2.0 carries a market capitalization of $6.95B. Around $3.58M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 0.05% of the float — on the quieter side, which can mean thinner liquidity for large orders.

Wrapped Liquid Staked Ether 2.0 carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. The token is roughly -67% under its record of $5,979 — a meaningful but not catastrophic drawdown.

What the price history shows

The tape currently reads 24-hour +0.40%, 7-day -4.51%.

Volatility profile

Recent action puts Wrapped Liquid Staked Ether 2.0 in the Low-volatility band — it has been relatively stable, with moves typical of large-cap, mature assets.

How to evaluate a liquid-staking token like Wrapped Liquid Staked Ether 2.0

For an asset of this type, three lenses matter most:

  • Peg to underlying — whether WSTETH trades close to the value of the stake it represents.
  • Provider risk — the smart-contract and validator risk of the staking protocol behind WSTETH.
  • 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.